This paper estimates the intergenerational income elasticity for urban China, paying careful attention to the potential … biases induced by income fluctuations and life cycle effects. Our preferred estimates are that the intergenerational income …

large effect on trustworthiness compared to that predicted by the relative income theory, and this leads us to suspect that … have very good income measures, and in particular to construct a measure of relative income that uses past income as a … reference point. Our basic finding is that given past income, higher current income increases trustworthiness and, given current …

-term positive association between the growth of happiness and income, arising from fluctuations in macroeconomic conditions, with …

suggested by the theory of incomplete markets, we differentiate between the effects of persistent and transitory income shocks …We reassess the empirical effect of income and employment on self-reported well-being. Our analysis makes use of a …. In line with this theory, we find that persistent shocks have a significant impact on happiness while transitory shocks …

Long term trends in happiness and income are not related; short term fluctuations in happiness and income are …