Living in the Shadow of the Past: Financial Profiles and Well‐Being
Andrew E. Clark
- Fonction : Auteur
- PersonId : 742286
- IdHAL : andrew-clark
- ORCID : 0000-0001-7004-7654
- IdRef : 035800070
Résumé
We here consider the link between individual financial profiles over time and well‐being, as measured by life satisfaction. We in particular look at annual self‐reported financial worsening and improvement information for over 25,000 individuals in Australian panel data from 2002 to 2017. We first find that satisfaction falls (rises) with a contemporaneous major financial worsening (improvement), with the largest correlation being with financial worsening. Second, the experience of these financial events in the past continues to be linked to current well‐being. Last, only the order of financial‐improvement spells relates to well‐being: a given number of past years where finances deteriorated has the same association with current well‐being whether the deterioration occurred in one continuous spell or was interrupted. We last show that these associations are heterogeneous over the distribution of well‐being.
Domaines
Economies et financesFormat du dépôt | Notice |
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Type de dépôt | Article dans une revue |
Titre |
en
Living in the Shadow of the Past: Financial Profiles and Well‐Being
|
Résumé |
en
We here consider the link between individual financial profiles over time and well‐being, as measured by life satisfaction. We in particular look at annual self‐reported financial worsening and improvement information for over 25,000 individuals in Australian panel data from 2002 to 2017. We first find that satisfaction falls (rises) with a contemporaneous major financial worsening (improvement), with the largest correlation being with financial worsening. Second, the experience of these financial events in the past continues to be linked to current well‐being. Last, only the order of financial‐improvement spells relates to well‐being: a given number of past years where finances deteriorated has the same association with current well‐being whether the deterioration occurred in one continuous spell or was interrupted. We last show that these associations are heterogeneous over the distribution of well‐being.
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Auteur(s) |
Andrew E. Clark
1, 2
, Conchita d'Ambrosio
3
, Rong Zhu
4
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
Uni.lu -
Université du Luxembourg
( 104741 )
- 6 rue Richard Coudenhove-Kalergi - L-1359 Luxembourg
- Luxembourg
4
Flinders University [Adelaide, Australia]
( 143009 )
- GPO Box 2100, Adelaide 5001, South Australia
- Australie
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Langue du document |
Anglais
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Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2021-07
|
Volume |
123
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Numéro |
3
|
Domaine(s) |
|
Projet(s) ANR |
|
DOI | 10.1111/sjoe.12426 |
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