Education, income and happiness: panel evidence for the UK

Felix R. FitzRoy; Michael A. Nolan

doi:10.1007/s00181-018-1586-5

Education, income and happiness: panel evidence for the UK

Felix R. FitzRoy
, Michael A. Nolan^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

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 language	English
Number of pages	20
Journal	Empirical Economics
Volume	First Online
Early online date	14 Nov 2018
DOIs	https://doi.org/10.1007/s00181-018-1586-5
Publication status	E-pub ahead of print - 14 Nov 2018

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

Easterlin paradox
Economic growth
Education
Income
Life satisfaction

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10.1007/s00181-018-1586-5Licence: CC BY

FitzRoy_2018_EE_Educationincomehappiness_CC
Copyright © The Author(s) 2018. Open Access. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), 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.
Final published version, 2.16 MBLicence: CC BY

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AB - 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.

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JO - Empirical Economics

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ER -

Education, income and happiness: panel evidence for the UK

Abstract

UN SDGs

Keywords

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