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Creative Destruction and Subjective Wellbeing

Philippe Aghion, Ufuk Akcigit (), Angus Deaton () and Alexandra Roulet

No 21069, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this paper we analyze the relationship between turnover-driven growth and subjective wellbeing, using cross-sectional MSA level US data. We find that the effect of creative destruction on wellbeing is (i) unambiguously positive if we control for MSA-level unemployment, less so if we do not; (ii) more positive on future wellbeing than on current well-being; (iii) more positive in MSAs with faster growing industries or with industries that are less prone to outsourcing; (iv) more positive in MSAs within states with more generous unemployment insurance policies.

JEL-codes: I31 J63 J65 O33 O38 Z19 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hap, nep-lab and nep-ltv
Date: 2015-04
Note: EFG
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Published as Philippe Aghion & Ufuk Akcigit & Angus Deaton & Alexandra Roulet, 2016. "Creative Destruction and Subjective Well-Being," American Economic Review, American Economic Association, vol. 106(12), pages 3869-3897, December.

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