Economic growth and well-being beyond the Easterlin paradox

Francesco Sarracino and Kelsey J. O’Connor
Authors registered in the RePEc Author Service: Kelsey J. O'Connor

Chapter 9 in A Modern Guide to the Economics of Happiness, 2021, pp 162-188 from Edward Elgar Publishing

Abstract: Recent studies suggest that economic growth and well-being can grow together in the long run in presence of generous social safety nets, increasing social capital and declining income inequality. We put these conditions to a test in an attempt to explain the absence of a relation between economic growth and well-being in Luxembourg. To this aim we apply an error correction model to a panel of 15 Western European countries, and we use the results to predict life satisfaction in Luxembourg between 1991 and 2015. We find that the flat trend of life satisfaction in Luxembourg is likely the result of four forces acting in opposite directions. This suggests that the available list of moderating conditions – although not exhaustive – is a promising starting point to design new policies to durably improve well-being.

Keywords: Economics and Finance; Sociology and Social Policy (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781788978750/9781788978750.00018.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
Working Paper: Economic growth and well-being beyond the Easterlin paradox (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:18839_9

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().