Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being
Money makes you happy. Or is it vice versa? The present work is an attempt to identify, for Latin America, if economic growth (measured by Gross Domestic Product) as a well-being´sobjective indicator, affects subjective indicators of well-being (happiness). Or, on the contrary, are these subjective...
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| Format: | Online |
| Language: | spa |
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Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2015
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| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/16412 |
| _version_ | 1839026203993833472 |
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| author | Caravaggio, Leonardo A. |
| author_facet | Caravaggio, Leonardo A. |
| author_sort | Caravaggio, Leonardo A. |
| collection | Portal de Revistas |
| description | Money makes you happy. Or is it vice versa? The present work is an attempt to identify, for Latin America, if economic growth (measured by Gross Domestic Product) as a well-being´sobjective indicator, affects subjective indicators of well-being (happiness). Or, on the contrary, are these subjective indicators that predict (may be because they determine) the behavior of GDP. On that propose, data on Latin America for the years 1995-2010 had been taken, including both types of indicators (objective and subjective). To avoid a model that imposes a certain direction of causality, an Autoregressive Vector methodology had been chosen, and to preserve the intra-country effects, a Panel model. That is, the methodology used is Panel-VAR. Evidence suggests that these relationships exists and manifest predominantly more strongly in the direction from the subjective to objective variable (except in the case of crisis). The subjective indicator anticipates (Wiener-Grangers cause) the objective indicator.It is also possible to identify differences between happiness and expectations.
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| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-16412 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2015 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-164122022-04-06T21:20:11Z Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being Felicidad y Economía. Una Descripción de los Efectos Recíprocos entre Indicadores Subjetivos y Objetivos de Bienestar Caravaggio, Leonardo A. panel VAR felicidad indicadores subjetivos de bienestar crecimiento económico I31 O10 054 panel VAR happiness subjective well-being economic growth I31 010 054 Money makes you happy. Or is it vice versa? The present work is an attempt to identify, for Latin America, if economic growth (measured by Gross Domestic Product) as a well-being´sobjective indicator, affects subjective indicators of well-being (happiness). Or, on the contrary, are these subjective indicators that predict (may be because they determine) the behavior of GDP. On that propose, data on Latin America for the years 1995-2010 had been taken, including both types of indicators (objective and subjective). To avoid a model that imposes a certain direction of causality, an Autoregressive Vector methodology had been chosen, and to preserve the intra-country effects, a Panel model. That is, the methodology used is Panel-VAR. Evidence suggests that these relationships exists and manifest predominantly more strongly in the direction from the subjective to objective variable (except in the case of crisis). The subjective indicator anticipates (Wiener-Grangers cause) the objective indicator.It is also possible to identify differences between happiness and expectations. La plata hace a la felicidad. ¿O es al revés? El presente trabajo es un intento por identificar, para Latinoamérica, si el crecimiento económico (medido por el Producto Interno Bruto) como indicador objetivo de bienestar repercute en mejores indicadores subjetivos de bienestar (felicidad)o si por el contrario, son estos indicadores subjetivos los que predicen(tal vez porque determinan) el comportamiento del PIB. Para esto se tomó información de dieciocho países Latinoamericanos entre los años 1995 y 2010 incluyendo ambos tipos de indicadores de bienestar (objetivo y subjetivo). Para evitar un modelo que imponga una determinada dirección de causalidad se optó por una metodología de Vectores Autorregresivos, y para preservar los efectos intra-país se trabajó un modelo econométrico de paneles: se utilizó un Panel-VAR. La evidencia sugeriría que ambos tipos de indicadores están relacionados y que predomina la relación en el sentido que va desde la variable subjetiva hacia la objetiva (salvo en el caso de crisis). El indicador subjetivo anticipa (causa en el sentido de Wiener-Granger) al indicador objetivo. También es posible identificar diferencias entre la felicidad, expectativas económicas y percepciones económicas actuales. Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2015-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/REyE/article/view/16412 10.55444/2451.7321.2015.v53.n1.16412 Revista de Economía y Estadística; Vol. 53 No. 1 (2015); 61-94 Revista de Economía y Estadística; Vol. 53 Núm. 1 (2015); 61-94 2451-7321 0034-8066 10.55444/2451.7321.2015.v53.n1 spa https://revistas.unc.edu.ar/index.php/REyE/article/view/16412/16272 Derechos de autor 2015 Leonardo A. Caravaggio http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | panel VAR felicidad indicadores subjetivos de bienestar crecimiento económico I31 O10 054 panel VAR happiness subjective well-being economic growth I31 010 054 Caravaggio, Leonardo A. Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title | Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title_alt | Felicidad y Economía. Una Descripción de los Efectos Recíprocos entre Indicadores Subjetivos y Objetivos de Bienestar |
| title_full | Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title_fullStr | Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title_full_unstemmed | Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title_short | Happiness and Economics. A description of the Reciprocal Effects between Subjective and Objective Indicators of Well-being |
| title_sort | happiness and economics a description of the reciprocal effects between subjective and objective indicators of well being |
| topic | panel VAR felicidad indicadores subjetivos de bienestar crecimiento económico I31 O10 054 panel VAR happiness subjective well-being economic growth I31 010 054 |
| topic_facet | panel VAR felicidad indicadores subjetivos de bienestar crecimiento económico I31 O10 054 panel VAR happiness subjective well-being economic growth I31 010 054 |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/16412 |
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