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Human Capital Accumulation and the Macroeconomy in an Ageing Society

Heijdra, Ben J.; Reijnders, Laurie S. M. - CESifo - 2012

How do population ageing shocks affect the long-run macroeconomic performance of an economy? To answer this question we build a general equilibrium overlapping generations model of a closed economy featuring endogenous factor prices. Finitely-lived individuals are endowed with perfect foresight...

Persistent link: https://www.econbiz.de/10010877922

Endogenous Growth, the Distribution of Wealth, and Optimal Policy under Incomplete Markets and Idiosyncratic Risk

Clemens, Christiane; Heinemann, Maik - CESifo - 2012

This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...

Persistent link: https://www.econbiz.de/10010551014

Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox

Stevenson, Betsey; Wolfers, Justin - CESifo - 2008

the relationship between subject well-being and income observed within countries. Finally, examining the relationship … between changes in subjective well-being and income over time within countries we find economic growth associated with rising … happiness. Together these findings indicate a clear role for absolute income and a more limited role for relative income …

Persistent link: https://www.econbiz.de/10005405873

Beyond Bentham – Measuring Procedural Utility

Frey, Bruno S.; Stutzer, Alois - CESifo - 2001

We propose that outcome utility and process utility can be distinguished and empirically measured. People gain procedural utility from participating in the political decision-making process itself, irrespective of the outcome. Nationals enjoy both outcome and process utility, while foreigners...

Persistent link: https://www.econbiz.de/10005406119

Valuing Public Goods: The Life Satisfaction Approach

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - CESifo - 2004

terrorism and income requires improved measurement of the marginal utility of income. …

Persistent link: https://www.econbiz.de/10005406339

The Long-Run Consequences of Chernobyl: Evidence on Subjective Well-Being, Mental Health and Welfare

Danzer, Alexander M.; Danzer, Natalia - CESifo - 2014

This paper assesses the long-run toll taken by a large-scale technological disaster on welfare, well-being and mental health. We estimate the causal effect of the 1986 Chernobyl catastrophe after 20 years by linking geographic variation in radioactive fallout to respondents of a nationally...

Persistent link: https://www.econbiz.de/10010790170

The New Stylized Facts about Income and Subjective Well-Being

Sacks, Daniel W.; Stevenson, Betsey; Wolfers, Justin - CESifo - 2013

their lives. Much of the early research concluded that the role of income in determining well-being was limited, and that … only income relative to others was related to well-being. In this paper, we review the evidence to assess the importance of … absolute and relative income in determining well-being. Our research suggests that absolute income plays a major role in …

Persistent link: https://www.econbiz.de/10010877842

Happy Voters

Liberini, Federica; Redoano, Michela; Proto, Eugenio - CESifo - 2014

Motivated by recent interest and initiatives taken by several governments and international organizations to come up with indicators of well-being to inform policy makers, we test if subjective well-being measures (SWB) can be employed to study voting behaviour. Controlling for financial and...

Persistent link: https://www.econbiz.de/10010948805

Vignette Equivalence and Response Consistency; The Case of Job Satisfaction

Ferrer-i-Carbonell, Ada; Praag, Bernard M.S. Van; … - CESifo - 2011

We compare reported job satisfaction with vignette evaluations of hypothetical jobs by using a British, Greek and Dutch data set, containing 95 randomly assigned vignettes. In order to test comparability of international data sets recently the method of anchoring vignettes has been introduced by...

Persistent link: https://www.econbiz.de/10009371342

Calculating Tragedy: Assessing the Costs of Terrorism

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - CESifo - 2004

The trends and consequences of terrorist activities are often captured by counting the number of incidents and casualties. More recently, the effects of terrorist acts on various aspects of the economy have been analyzed. These costs are surveyed and put in perspective. As economic consequences...

Persistent link: https://www.econbiz.de/10005094285