This paper evaluates the importance of middle class vulnerability to poverty for subjective well-being (happiness) in … well-being and national aggregates from the World Happiness Report, the vulnerability indicator used is shown to be … statistically significant for happiness perceptions at both the individual and aggregate levels. At the micro level, the economic …

Previous research has found that subjective well-being (SWB) is lower for individuals classified as being in poverty …. Using panel data for 39,239 individuals living in Germany from 2005-2013, we show that people's SWB is negatively correlated … relationship between aggregate poverty and SWB is more salient in the upper segments of the income distribution and is robust to …

satisfaction falls with both the incidence and intensity of contemporaneous poverty. Second, poverty scars: those who have been … poor in the past report lower life satisfaction today, even when out of poverty. Last, the order of poverty spells matters …: for a given number of years in poverty, satisfaction is lower when the years are linked together. As such, poverty …