Money and Happiness : Evidence from the Industry Wage Structure

@inproceedings{Pischke2011MoneyAH,
  title={Money and Happiness : Evidence from the Industry Wage Structure},
  author={J. D. Von Pischke},
  year={2011}
}
Money and Happiness: Evidence from the Industry Wage Structure There is a well-established positive correlation between life-satisfaction measures and income in individual level cross-sectional data. This paper attempts to provide some evidence on whether this correlation reflects causality running from money to happiness. I use industry wage differentials as instruments for income. This is based on the idea that at least part of these differentials are due to rents, and part of the pattern of… CONTINUE READING

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