In the United States, the employment rate is nearly flat across wealth quintiles with the exception of the first quintile. Correlations between wealth and employment are close to zero or moderately positive. However, incomplete markets models with a standard utility function counterfactually...

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...