Non-contributory social pension has been widely used to provide minimum income support for disadvantaged seniors. Despite its efficacy in reducing old-age poverty, only a few studies systematically assessed whether the benefits of social pension extend to health outcomes. In this paper, we...

Psychosocial stress and the related biochemical response have been hypothesized as a potential mechanism underlying the link between relative deprivation and mortality. While suicide is known as the likely manifestation of severe mental illness, less is known about the effect that relative...

Surges in firearm sales after mass shootings have been well documented in the United States. This study presents three main findings regarding the impact of mass shootings on firearm demand and the moderating roles played by political and regulatory climates. First, mass shootings led to an...

Previous research suggests that the emotional consequences of unfavorable social comparisons determine individual attitudes and behaviors. However, few studies assessed the effect of relative deprivation on prosocial behaviors, and any evidence in the Asian context is particularly scarce. In...

This study examines the association between consumption expenditure and life satisfaction among older Koreans (aged 50 or older). We estimate a series of individual fixed effects regressions that link life satisfaction to various types of household consumption using data drawn from the Korean...

Expanding the scope of the traditional indicators used to assess economic progress with measures of subjective well-being has been of growing importance in policy modeling. A recent Stiglitz-Sen-Fitoussi report argued that policy decisions and welfare evaluations should be approached from a...

This paper develops a frequentist model averaging approach for threshold model specifications. The resulting estimator is proved to be asymptotically optimal in the sense of achieving the lowest possible squared errors. In particular, when com-bining estimators from threshold autoregressive...