Reference : Living in the Shadow of the Past: Financial Profiles and Well-Being
Scientific journals : Article
Business & economic sciences : Social economics
Living in the Shadow of the Past: Financial Profiles and Well-Being
d'ambrosio, Conchita mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Integrative Research Unit: Social and Individual Development (INSIDE) >]
Clark, Andrew mailto [Paris School of Economics and CNRS]
Zhu, Rong mailto [Flinders University]
Scandinavian Journal of Economics
Yes (verified by ORBilu)
United Kingdom
[en] Financial improvement ; financial worsening ; time profiles ; well-being ; HILDA
[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 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.
FnR ; FNR12677653 > Conchita D'Ambrosio > FESI > Financial Strain and Economic Instability: Effects on Wellbeing and Behaviour over the Life Course > 01/09/2019 > 31/08/2022 > 2018

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