Search results for "happiness gap"
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The Well-Being Gap during the Great Recession: The Role of Growth and Institutions
2020
The purpose of this paper is to examine the well-being dynamics across European countries during the Great Recession and to investigate the potential role of the quality of formal institutions in mitigating the negative effect of the economic downturn. This study uses the club convergence methodology by Phillips and Sul (2007; 2009) to group EU-28 countries that present similar features in terms of well-being during the period 2005-2017. The study also applies probit models to investigate the potential role of several social and institutional characteristics that are supposed to affect subjective well-being levels. The results show the existence of a “well-being gap” among European countrie…