Recession and life satisfaction in 35 countries
by Adam Mayer
International Journal of Happiness and Development (IJHD), Vol. 2, No. 2, 2015

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.

Online publication date: Fri, 26-Jun-2015

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