Is subjective well-being insured against income shocks? Evidence from 20-year panel data in South Korea

Is subjective well-being insured against income shocks? Evidence from 20-year panel data in South Korea

Using 20 years of nationally representative panel data in South Korea, we estimate how life satisfaction responds to income shocks. We document that unexpected income changes significantly impact an individual's life satisfaction, and the magnitudes depend on the persistence of income shocks. W...

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Bibliographic Details
Main Authors: AHN, Jiyeon, AHN, Taehyun, KIM
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2024
Subjects:
life satisfaction
insurance
income shocks
KLIPS
Asian Studies
Behavioral Economics
Income Distribution
Online Access:https://ink.library.smu.edu.sg/soe_research/2797
https://ink.library.smu.edu.sg/context/soe_research/article/3796/viewcontent/dp17514_wp.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/2797
https://ink.library.smu.edu.sg/context/soe_research/article/3796/viewcontent/dp17514_wp.pdf

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