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The asymmetric experience of positive and negative economic growth: Global evidence using subjective well-being data

Abstract:

Are individuals more sensitive to losses than gains in terms of economic growth? We find that measures of subjective well-being are more than twice as sensitive to negative as compared to positive economic growth. We use Gallup World Poll data from over 150 countries, BRFSS data on 2.3 million US respondents, and Eurobarometer data that cover multiple business cycles over four decades. This research provides a new perspective on the welfare cost of business cycles, with implications for growt...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted Manuscript

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Publisher copy:
10.1162/REST_a_00697

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Department:
Harris Manchester College
Role:
Author
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Funding agency for:
De Neve, J-EC
Publisher:
Massachusetts Institute of Technology Publisher's website
Journal:
Review of Economics and Statistics Journal website
Volume:
100
Issue:
2
Publication date:
2018-05-04
Acceptance date:
2017-02-22
DOI:
ISSN:
1530-9142
Pubs id:
pubs:684214
URN:
uri:85454dbd-2797-4138-b0cf-d496a5078261
UUID:
uuid:85454dbd-2797-4138-b0cf-d496a5078261
Local pid:
pubs:684214

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