Is Well-being U-Shaped over the Life Cycle?

David Blanchflower () and Andrew J. Oswald

No 12935, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Recent research has argued that psychological well-being is U-shaped through the life cycle. The difficulty with such a claim is that there are likely to be omitted cohort effects (earlier generations may have been born in, say, particularly good or bad times). Hence the apparent U may be an artifact. Using data on approximately 500,000 Americans and Europeans, this paper designs a test that makes it possible to allow for different birth-cohorts. A robust U-shape of happiness in age is found. Ceteris paribus, well-being reaches a minimum, on both sides of the Atlantic, in people's mid to late 40s. The paper also shows that in the United States the well-being of successive birth-cohorts has gradually fallen through time. In Europe, newer birth-cohorts are happier.

JEL-codes: I1 J0 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-hea and nep-ltv
Date: 2007-02
Note: HE LS
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Working Paper: Is Well-being U-Shaped over the Life Cycle? (2007)
Working Paper: Is Well-Being U-Shaped over the Life Cycle? (2007)
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