Utilizing the 2015 wave of the China Health and Retirement Longitudinal Study (CHARLS) that covers 7045 households, we study the effect of grandparents looking after grandchildren on quality of life and life satisfaction of grandparents. We find evidence of important favorable effects of...

Since measures of well-being are meant to be an exercise in documentation, but also a tool for policies and priorities, we suggest an operative way to use them. We evaluate both technical and social efficiency of countries in producing the Better Life Index (BLI) objectives. To assess the...

We develop a dynamic spatial model in which heterogeneous workers are imperfectly mobile and forward-looking and yet all structural fundamentals can be inverted without assuming that the economy is in a stationary spatial equilibrium. Exploiting this novel feature of the model, we show that the...

For representative German panel data, we show that voluntary job switching leads to relatively high levels of life satisfaction, though only for some time, whereas the impact of exogenously triggered job changes is ambiguous. Risk aversion interacts negatively with this effect in life...

Welfare economic analysis of health issues and policies can provide well balanced orderings of the state of the economy. This paper provides an innovative framework for welfare economic analysis of the relationships between economic growth, health outcomes and social welfare for both a...

In this paper we present a theory of health investment when there are multiple causes of death. Since there are several risks competing for one's life, the health investments in avoiding different causes of death are not independent in general. We analyze the optimal investment rules and the...

Inequality is an important threat to the globalization of the world economy that we experience today. This contribution uses a new measure of inequality: heigth inequality. It covers not only wage recipients, but also the self-employed, the unemployed, housewifes, children, and other groups who...