Education, income and happiness: panel evidence for the UK

Felix R. FitzRoy, Michael A. Nolan*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    2 Citations (Scopus)

    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.

    Original languageEnglish
    Number of pages20
    JournalEmpirical Economics
    VolumeFirst Online
    Early online date14 Nov 2018
    DOIs
    Publication statusE-pub ahead of print - 14 Nov 2018

    Keywords

    • Easterlin paradox
    • Economic growth
    • Education
    • Income
    • Life satisfaction

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