Changes in Subjective Well-Being Over Time: Economic and Social Resources do Matter

Ana Moro-Egido, M. Navarro () and Angeles Sánchez ()
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M. Navarro: Universidad de Granada

Journal of Happiness Studies, 2022, vol. 23, issue 5, No 13, 2009-2038

Abstract: Abstract This article analyzes the main determinants of changes in subjective well-being over time in Germany distinguishing between long-term and short-term changes. Our findings for the long term indicate that social capital and values and cultural dimensions have the greatest capacity to predict changes in subjective well-being. Likewise, the correlation between economic resources and subjective well-being is weaker due to the small increase registered in household income and because people compare their income with those who are better off and feel envy. In the short term, economic resources have the highest capacity to predict both improvements (ups) and declines (downs) in subjective well-being. Finally, we also suggest that, whenever information is available, personality traits should be taken into account in the analysis of changes in subjective well-being over time in order to achieve more reliable estimates.

Keywords: Changes in subjective well-being; Economic resources; Social resources; Psychological capital; Public policy (search for similar items in EconPapers)
JEL-codes: C23 D60 I31 I38 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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DOI: 10.1007/s10902-021-00473-3

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