|
Table 4. Panel Regressions of Subjective Well-Being on GDP per Capita: Eurobarometer | ||
|
Micro data estimates |
Macro data estimates | |
|
Dependent variable: Life satisfaction, 1973-2007 | ||
|
Levels |
0.737*** (0.181) |
^^■■0.769*** (0.177) |
|
Levels and country fixed effects |
***0.192*** (0.066) |
***0.194*** (0.059) |
|
Levels and country & wave fixed effects |
**0.208** (0.099) |
***0.193** (0.094) |
|
First differences, five year averages |
n.a. |
***.579*** (.181) |
|
First differences, decadal averages |
n.a. |
.333 |
|
Dependent variable: Happiness, 1975-86 | ||
|
Levels |
0.422 (0.517) |
0.448 (0.489) |
|
Levels and country fixed effects |
0.554 |
*0.626* (0.346) |
|
Levels and country & wave fixed effects |
1.037 (0.993) |
1.262 (0.904) |
|
First differences, five year averages |
n.a. |
0.107 (.840) |
|
First differences, decadal averages |
n.a. |
2.108 (1.678) |
Sources: 1973-2002 data are drawn from Eurobarometer Trendfile, and 2002-07 from biannual Eurobarometer reports.
Notes: Table reports results of regressions of the indicated measure of well-being on log real GDP per capita. Sample pools observations
from all Eurobarometer samples, using sample weights to typically yield around 1,000 nationally representative respondents in each country
and wave (keeping East and West Germany separate). Numbers in parentheses are robust standard errors, clustered by country. Asterisks
indicate statistical significance at the *10 percent, **5 percent, and *1 percent level.
Micro data: Ordered probit regression of subjective well-being, using data by respondent, on log real GDP per capita for the respondent’s
country, weighting observations to give equal weight to each country × wave. Standard errors are clustered by country-wave.
Macro data: National well-being index, using data by country-wave, is regressed on log real GDP per capita. The index is calculated in a
previous ordered probit regression of well-being on country × wave fixed effects.
Life satisfaction: Respondents were asked, “On the whole, are you (1) very satisfied, (2) fairly satisfied, (3) not very satisfied, or (4) not at all
satisfied with the life you lead?” Sample yields 850,153 respondents from 776 country × wave observations in 31 countries; 77 five-year first
differences, and 37 decadal differences.
Happiness: Respondents were asked, “Taking all things together, how would you say things are these days—would you say that you’re (3)
very happy, (2) fairly happy, or (1) not too happy these days?” Sample yields 134,590 respondents from 139 country × wave observations in
12 countries; 19 five-year first differences, and 9 decadal first differences (all 1980s compared with 1970s).
First differences, five year averages: Data were averaged by country in five-year periods (1973-77, 1978-82, 1983-87, 1988-92, 1993-97,
1998-2002, and 2003-07), and first differences of well-being were regressed against first differences in the log of average real GDP per
capita.
First differences, decadal averages: Data from the 1970s, 1980s, 1990s, and 2000s were averaged separately, and first differences of well-
being were regressed against first differences in the log of average real GDP per capita.
Tables—4