The Sadness of Bulgaria

Hernando Zuleta and Maria Draganova (myd100@aubg.bg)

No 10018, Documentos CEDE from Universidad de los Andes, Facultad de Economía, CEDE

Abstract: There is a significant positive statistical connection between GDP per capita and the satisfaction rate. However, Bulgaria, being a middle income economy, is one of the saddest places on Earth. We try to identify possible reasons for this phenomenon and we put forward some policy implications. The evolution of fertility rates, income per capita and income distribution during the democratic era help to understand the Bulgarian sadness.

Keywords: Happiness; Prospect Theory; Relative Consumption; Communism (search for similar items in EconPapers)
JEL-codes: D01 D31 D69 J11 J13 (search for similar items in EconPapers)
Pages: 16
Date: 2012-09-27
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Persistent link: https://EconPapers.repec.org/RePEc:col:000089:010018

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