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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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2024
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| Subjects: | |
| 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 |