COVID-19, lockdown, and the dynamics of subjective well-being

COVID-19, lockdown, and the dynamics of subjective well-being

We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large...

Full description

Saved in:
Bibliographic Details
Main Authors: CHENG, Terence C., KIM, KOH, Kanghyock
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2020
Subjects:
COVID-19
pandemic
life satisfaction
subjective well-being
individual-level monthly panel data
difference-in-differences
Singapore
Behavioral Economics
Income Distribution
Public Health
Online Access:https://ink.library.smu.edu.sg/soe_research/2440
https://ink.library.smu.edu.sg/context/soe_research/article/3439/viewcontent/dp13702.pdf
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Singapore Management University
Language: English
Description
Summary:We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in overall life satisfaction almost twice as large as those who do not report any income loss.

Similar Items