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The Effect of the Brexit Referendum Result on Subjective Well-being

Georgios Kavetsos (), Ichiro Kawachi, Ilias Kyriopoulos and Sotiris Vandoros ()

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: We study the effect of the Brexit referendum result on subjective well-being in the United Kingdom. Using a quasi-experimental design, we find that this outcome led to an overall decrease in subjective well-being in the UK compared to a control group. The effect is driven by individuals who hold an overall positive attitude towards the EU and shows little signs of adaptation. Subjective well-being of those with a very negative attitude towards the EU increases in the short-run but turns negative, possibly due to unmet expectations. Using three different measures of socio-economic connection between the UK and other European countries, we generally do not find evidence supporting the presence of spillover effects of the Brexit referendum result on subjective well-being of individuals in other EU countries.

Keywords: subjective well-being; happiness; Brexit; referendum; election (search for similar items in EconPapers)
JEL-codes: D72 I30 I31 I38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eur, nep-hap and nep-int
Date: 2018-12
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Working Paper: The effect of the Brexit referendum result on subjective well-being (2018) Downloads
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