Education, income and happiness: Panel evidence for the UK

FitzRoy, Felix R.; Nolan, Michael A.

Abstract

Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over nearly two decades, for samples split by education, and age, to our knowledge for the first time. The highly educated went from lowest to highest LS, though their average income was always higher. In spite of rapid income growth up to 2008/2009, the less educated showed no rise in LS, while highly educated LS rose after the crash despite declining real income. In panel LS regressions with individual fixed effects, none of the income variables was significant for the highly educated.

Citation

FitzRoy, F. R., & Nolan, M. A. (in press). Education, income and happiness: Panel evidence for the UK. Empirical economics, https://doi.org/10.1007/s00181-018-1586-5

• Journal Article Type: Article
• Acceptance Date: Oct 30, 2018
• Online Publication Date: Nov 14, 2018
• Deposit Date: Dec 13, 2018
• Publicly Available Date: Dec 14, 2018
• Journal: Empirical Economics
• Print ISSN: 0377-7332
• Publisher: Springer Verlag
• Peer Reviewed: Peer Reviewed
• DOI: https://doi.org/10.1007/s00181-018-1586-5
• Keywords: Economics and Econometrics; Statistics and Probability; Social Sciences (miscellaneous); Mathematics (miscellaneous)
• Public URL: https://hull-repository.worktribe.com/output/1152510
• Publisher URL: https://link.springer.com/article/10.1007%2Fs00181-018-1586-5
• Contract Date: Dec 14, 2018