EconPapers    
Economics at your fingertips  
 

Structural changes in economic growth and well-being. The case of Italy’s parabola

Maurizio Pugno and Francesco Sarracino

No 2019-04, Working Papers from Universita' di Cassino, Dipartimento di Economia e Giurisprudenza

Abstract: The controversies on the relationship (called ‘gradient’) between the long-run trends of GDP and subjective well-being oppose those who claim that the gradient is positive, to those who argue that it is nil. The possible existence of structural breaks of the gradient within the same country is a challenge to both views. By focusing on the case of Italy, we show that the long-run trends of GDP and of well-being turned from increasing to decreasing, and that the gradient exhibits a rise through two structural breaks. We adopt macro- and micro-economic approaches to explain why the gradient changes. We find evidence consistent with the ‘loss aversion’ hypothesis. In addition, the gradient changed because the erosion of trust in others, the increase of financial dissatisfaction and worsened health hinder well-being independently from income.

JEL-codes: I31 O11 O12 O5 (search for similar items in EconPapers)
Pages: 51 pages
Date: 2019-11
New Economics Papers: this item is included in nep-hap
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dipeg-wpe.unicas.it/files/wp_201904.pdf Full text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
Journal Article: Structural Changes in Economic Growth and Well-Being: The Case of Italy’s Parabola (2021) Downloads
Working Paper: Structural changes in economic growth and well-being. The case of Italy's parabola (2019) Downloads
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:csn:wpaper:2019-04

Access Statistics for this paper

More papers in Working Papers from Universita' di Cassino, Dipartimento di Economia e Giurisprudenza CREAM Dipartimento di Economia e Giurisprudenza Via S. Angelo Loc. Folcara 03043 Cassino (FR) - Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Gennaro Zezza ().

 
Page updated 2024-07-06
Handle: RePEc:csn:wpaper:2019-04