Born to Be Mild? Cohort Effects Don’t (Fully) Explain Why Well-Being Is U-Shaped in Age

Andrew Clark

Chapter Chapter 17 in The Economics of Happiness, 2019, pp 387-408 from Springer

Abstract: Abstract The statistical analysis of cross-section data very often reveals a U-shaped relationship between subjective well-being and age. This paper uses 18 waves of British panel data to try to distinguish between two potential explanations of this shape: a pure life-cycle or aging effect, and a fixed cohort effect depending on year of birth. Panel analysis controlling for fixed effects continues to produce a U-shaped relationship between well-being and age, although this U-shape is flatter for life satisfaction than for the GHQ measure of mental well-being. The pattern of the estimated cohort effects also differs between the two well-being measures and, to an extent, by demographic group. In particular, those born earlier report more positive GHQ scores, controlling for their current age; this phenomenon is especially prevalent for women.

Keywords: Subjective well-being; Cohorts; Fixed effects; Panel data (search for similar items in EconPapers)
Date: 2019
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Related works:
Working Paper: Born to Be Mild? Cohort Effects Don’t (Fully) Explain Why Well-Being Is U-Shaped in Age (2019)
Working Paper: Born to Be Mild? Cohort Effects Don’t (Fully) Explain Why Well-Being Is U-Shaped in Age (2019)
Working Paper: Born To Be Mild? Cohort Effects Don’t (Fully) Explain Why Well-Being Is U-Shaped in Age (2007)
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DOI: 10.1007/978-3-030-15835-4_17

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