Uncertainty, financial crises, and subjective well-being

Author
Tonzer, Lena
Published 2017
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Abstract

This paper focuses on the effect of uncertainty as reflected by financial market variables on subjective well-being. The analysis is based on Eurobarometer surveys, covering 20 countries over the period from 2000 to 2013. Individuals report lower levels of life satisfaction in times of higher uncertainty approximated by stock market volatility. This effect is heterogeneous across respondents: The probability of being unsatisfied is higher for respondents who are older, less educated, and live in one of the GIIPS countries of the euro area. Furthermore, higher uncertainty in combination with a financial crisis increases the probability of reporting low values of life satisfaction.

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Details

Title
Uncertainty, financial crises, and subjective well-being
Author
Tonzer, Lena
Year
2017
Published
2017
Type
Research Paper
Language
eng
Keywords
Subjective Well-being · Uncertainty · Financial Crises · Welfare Economics · General Welfare
This is Version 1 of this record. We added this version on February 1, 2017. This version is based on an original data import from RePEc.