significant negative long run association between inflation and real GDP, which is suggestive of economic inefficiencies. Once the …

, Italy and Spain). To highlight some results, we find a positive short-run effect for GDP and life expectancy on subjective … wellbeing. An increase of 1% life expectancy is equivalent to more than 5% increase in yearly GDP. One year of internal conflict … costs the equivalent of a 50% drop in GDP per year in terms of subjective wellbeing. Public debt, on the other hand, has a …

European debt crisis. When investigating whether various expenditure components of GDP may cause different unemployment …