Twins, income, and happiness: Evidence from China.
fixed effects
happiness
income
instrumental variables
twins
Journal
Proceedings of the National Academy of Sciences of the United States of America
ISSN: 1091-6490
Titre abrégé: Proc Natl Acad Sci U S A
Pays: United States
ID NLM: 7505876
Informations de publication
Date de publication:
20 06 2023
20 06 2023
Historique:
medline:
14
6
2023
pubmed:
12
6
2023
entrez:
12
6
2023
Statut:
ppublish
Résumé
We estimate the causal effect of income on happiness using a unique dataset of Chinese twins. This allows us to address omitted variable bias and measurement errors. Our findings show that individual income has a large positive effect on happiness, with a doubling of income resulting in an increase of 0.26 scales or 0.37 SDs in the four-scale happiness measure. We also find that income matters most for males and the middle-aged. Our results highlight the importance of accounting for various biases when studying the relationship between socioeconomic status and subjective well-being.
Identifiants
pubmed: 37307454
doi: 10.1073/pnas.2221884120
pmc: PMC10288615
doi:
Types de publication
Journal Article
Twin Study
Research Support, Non-U.S. Gov't
Langues
eng
Sous-ensembles de citation
IM
Pagination
e2221884120Références
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