The 60es turnaround as a test on the causal relationship between sociability and happiness
Leonardo Becchetti (),
Elena Giachin Ricca and
Alessandra Pelloni ()
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Elena Giachin Ricca: University of Rome Tor Vergata
No wp07, Econometica Working Papers from Econometica
The nexus between relational life and life satisfaction is riddled with endogeneity problems. By investigating the causal relationship going from the first to the second variable we consider that retirement is a shock which increases the time investable in (outside job) relational life. As a consequence we instrument investment in relational goods with the aggregate exogenous age-retirement pattern. With such approach we document that investment in relational life has a positive and significant effect on life satisfaction. Consequences of our findings in terms of retirement effects and age-happiness pattern are also discussed.
Keywords: life satisfaction; relational goods; social capital (search for similar items in EconPapers)
JEL-codes: I30 D61 A11 A13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-hap and nep-soc
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Working Paper: The 60s Turnaround as a Test on the Causal Relationship between Sociability and Happiness (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ent:wpaper:wp07
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