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Living in the Shadow of the Past: Financial Profiles and Well-Being*
The Scandinavian Journal of Economics ( IF 1.109 ) Pub Date : 2020-08-27 , DOI: 10.1111/sjoe.12426
Andrew E. Clark 1 , Conchita D'Ambrosio 2 , Rong Zhu 3
Affiliation  

We consider the link between individual financial profiles over time and well-being, as measured by life satisfaction. In particular, we look at annual self-reported financial worsening and improvement information for more than 25,000 individuals in Australian panel data from 2002 to 2017. We first find that satisfaction falls (rises) with a contemporaneous major financial worsening (improvement), with the largest correlation seen to be with financial worsening. Second, the experience of these financial events in the past continues to be linked to current well-being. Last, only the order of financial-improvement spells relates to well-being: a given number of past years where finances deteriorated has the same association with current well-being whether the deterioration occurred in one continuous spell or was interrupted. We show that these associations are heterogeneous over the distribution of well-being.

中文翻译:

生活在过去的阴影中:财务状况和幸福感*

我们考虑个人财务状况与幸福感(以生活满意度衡量)之间的联系。特别是,我们查看了 2002 年至 2017 年澳大利亚面板数据中超过 25,000 个人的年度自我报告财务恶化和改善信息。我们首先发现满意度随着同期重大财务恶化(改善)而下降(上升),其中最大的相关性被认为与金融恶化有关。其次,过去这些金融事件的经历继续与当前的福祉联系在一起。最后,只有财务改善阶段的顺序与福祉相关:过去给定数量的财务状况恶化与当前的福祉具有相同的关联,无论恶化是在一个连续阶段发生还是被中断。
更新日期:2020-08-27
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