WWP Wellbeing Reading List News: April 2022

The Wellbeing Reading List News: April 2022

View the original WWP Wellbeing Reading List HERE

We asked the World Wellbeing Panel (WWP) panelists to nominate 5 relevant papers in the wellbeing literature that they believed should be added to our Wellbeing Reading List. The nominations are in, and from now until the end of 2022, we will disclose the 24 most-nominated papers.

Papers will be revealed two at a time, starting with those that had the fewest nominations and using the number of citations in 2021 (according to Google Scholar) when there are ties.

The Wellbeing Reading List is managed by WWP panelist Daniela Andrén (Örebro University) and the managing committee of the World Wellbeing Panel.

Please use the hashtag #WellbeingReadingList on social media to share and comment on the papers.

April 2022

Winkelmann, L., & Winkelmann, R. (1998). Why are the unemployed so unhappy? Evidence from panel data. Economica, 65(257), 1-15.
Total Google Scholar citations in 2021: 2256

This paper focuses on own unemployment. It examined the impact that own unemployment has on happiness using a panel setting with individual fixed effects. The authors find a strong negative correlation of happiness with unemployment. Following this paper, there has been growing evidence not only on the negative impact of unemployment on happiness, but most important, on examining the mechanisms behind this correlation.

Di Tella, R., MacCulloch, R.J., and Oswald, A.J. (2001). Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness. American Economic Review, 91, 335-341.
Total Google Scholar citations in 2021: 2319

This paper represented an important contribution to the literature; it examined for the first time the impact of macro-economic conditions, other than GDP, on happiness. While there were some papers examining the importance of GDP, this paper was the first to focus on other macro-economic indicators to show the importance of unemployment in the country or region. Specifically, it focused on the trade-offs between inflation and unemployment rate, in terms of wellbeing to conclude that unemployment rate has a much larger correlation subjective wellbeing than inflation. While growth shows a much weaker correlation, unemployment has a significant impact on happiness. This is in line with the literature (see paper 15) on the impact of own unemployment in happiness. This paper uses a two step model to show robust standard errors.

View the BEST/World Wellbeing Panel page HERE.