Well-Being and Income Across Space and Time: Evidence from One Million Households

Smith, Michael D.; Wesselbaum, Dennis

doi:10.1007/s10902-023-00660-4

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Well-Being and Income Across Space and Time: Evidence from One Million Households

2023
By Smith, Michael D. ; Wesselbaum, Dennis
Source: Journal of Happiness Studies, 24(5), 1813-1840

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Journal Title:

Journal of Happiness Studies
Personal Author:

Smith, Michael D. ; Wesselbaum, Dennis

Smith, Michael D. ; Wesselbaum, Dennis Less -
NOAA Program & Office:

AFSC (Alaska Fisheries Science Center) ; NMFS (National Marine Fisheries Service)

AFSC (Alaska Fisheries Science Center) ; NMFS (National Marine Fisheries Service) Less -
Description:

This paper provides an overview of the global trends and driving forces of well-being and income. We extend the literature by examining inequality in both variables, since average well-being and income measures can obscure important disparities in people’s lives. We use data from the Gallup World Poll for nine years (2009–2017) and 158 countries (N = 1,437,897). Our analysis proceeds in two steps. First, we present country-level panel evidence. Second, we estimate microeconometric regressions to reveal the individual-level drivers of well-being and income. We find that the mean of well-being and income by development group varies little over time, while inequality in these two variables change significantly. We find no evidence of the Easterlin paradox after controlling for income inequality and show that income growth reduces well-being inequality. Further, drivers of mean and inequality in well-being and income are similar, but policymakers should consider the full distributional impact of investments.
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Social Sciences (miscellaneous)
Source:

Journal of Happiness Studies, 24(5), 1813-1840
DOI:

https://doi.org/10.1007/s10902-023-00660-4
ISSN:

1389-4978;1573-7780;
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PDF
Publisher:

Springer Science and Business Media LLC
Document Type:

Journal Article
License:

https://creativecommons.org/licenses/by/4.0/
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CC BY
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urn:sha-512:daf209252918536af686b2d6350a303b62db2b4f838503843ab388ab5e1cbbac7f93faa7513212ac83f2eac70dd2ed20f8dd9010a12dfac42aaab1bbafa7626e
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Well-Being and Income Across Space and Time: Evidence from One Million Households

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