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Education, income and happiness: Panel evidence for the UK

FitzRoy, Felix R.; Nolan, Michael A.


Felix R. FitzRoy

Dr Michael Nolan
Senior Lecturer in Economics and Programme Director, BSc Economics and BA Business Economics


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.


FitzRoy, F. R., & Nolan, M. A. (in press). Education, income and happiness: Panel evidence for the UK. Empirical economics,

Journal Article Type Article
Acceptance Date Oct 30, 2018
Online Publication Date Nov 14, 2018
Deposit Date Dec 13, 2018
Publicly Available Date Oct 27, 2022
Journal Empirical Economics
Print ISSN 0377-7332
Electronic ISSN 1435-8921
Publisher Springer Verlag
Peer Reviewed Peer Reviewed
Keywords Economics and Econometrics; Statistics and Probability; Social Sciences (miscellaneous); Mathematics (miscellaneous)
Public URL
Publisher URL


Article (2.4 Mb)

Copyright Statement
© The Author(s) 2018<br /> <br /> This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (, which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.

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