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...

We find that new states are perceived to be more corrupt even though businesses do not report more bribery in newer states. This is suggestive of an unearned, and likely high, reputational cost to being a new state. These findings hold over a number of specifications that include additional...