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Answers to the Eurobarometer question on Life Satisfaction are used to explore the effects of macroeconomic performance and institutional quality on average levels of self‐assessed well-being in the countries of the enlarged European Union between 2004 and 2011. It is found that variations in...
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-run (noncyclical)unemployment rate in Germany by 1.4 percentage points. We also find that the welfare of employed households increases …
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