 Living in the Shadow of the Past: Financial Profiles and Well‐BeingAndrew Clark, Conchita D'Ambrosio and Rong Zhu Post-Print from HAL Abstract: We here consider the link between individual financial profiles over time and well‐being, as measured by life satisfaction. We in particular look at annual self‐reported financial worsening and improvement information for over 25,000 individuals in Australian panel data from 2002 to 2017. We first find that satisfaction falls (rises) with a contemporaneous major financial worsening (improvement), with the largest correlation being with financial worsening. Second, the experience of these financial events in the past continues to be linked to current well‐being. Last, only the order of financial‐improvement spells relates to well‐being: a given number of past years where finances deteriorated has the same association with current well‐being whether the deterioration occurred in one continuous spell or was interrupted. We last show that these associations are heterogeneous over the distribution of well‐being. Date: 2021-07 Published in Scandinavian Journal of Economics, 2021, 123 (3), ⟨10.1111/sjoe.12426⟩ There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02973081 DOI: 10.1111/sjoe.12426 Access Statistics for this paper More papers in Post-Print from HAL |
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