Creative Destruction and Subjective Wellbeing
Ufuk Akcigit (),
Angus Deaton () and
No 21069, NBER Working Papers from National Bureau of Economic Research, Inc
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)
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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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Journal Article: Creative Destruction and Subjective Well-Being (2016)
Working Paper: Creative destruction and subjective well-being (2016)
Working Paper: Creative Destruction and Subjective Well-Being (2016)
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