Title: Recession and life satisfaction in 35 countries

Authors: Adam Mayer

Addresses: Colorado State University, B258 Clark Fort Collins, CO 80523, USA

Abstract: Recessions have many consequences for subjective well-being. In this paper we consider the influence of job losses, changes in consumption, loss of wages and macro-economic factors during recession. Using a novel 35 country dataset and a combination of individual and country-level predictors we find that job loss and a reduction in staple consumption have a particularly strong negative effect on subjective well-being. These effects are partially mediated by subjective beliefs about the impact of the recession. In addition, we find that simply living in a former Soviet or 'transition' country has a strong downward influence on subjective well-being.

Keywords: economic recession; happiness; subjective well-being; life satisfaction; transition economies; mediation; job losses; consumption changes; wage losses; wages; macroeconomics.

DOI: 10.1504/IJHD.2015.070073

International Journal of Happiness and Development, 2015 Vol.2 No.2, pp.118 - 136

Received: 07 May 2014
Accepted: 22 Sep 2014
Published online: 26 Jun 2015 *

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