- Abstract:
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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...
Expand abstract - Publication status:
- Published
- Peer review status:
- Peer reviewed
- Version:
- Accepted Manuscript
- Files:
-
-
(pdf, 861.2KB)
-
- Publisher copy:
- 10.1162/REST_a_00697
-
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- 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:
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pubs:684214
- URN:
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uri:85454dbd-2797-4138-b0cf-d496a5078261
- UUID:
-
uuid:85454dbd-2797-4138-b0cf-d496a5078261
- Local pid:
- pubs:684214
- Copyright holder:
- President and Fellows of Harvard College
- Copyright date:
- 2018
- Notes:
- © 2018 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology. This is the publisher's version of the article. The final version is available online from MIT at: 10.1162/rest_a_00697
Journal article
The asymmetric experience of positive and negative economic growth: Global evidence using subjective well-being data
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