There is much evidence that relative income concern reduces subjective wellbeing and raises labour supply - "keeping up …

the rest of the economy via high unemployment and reduced labor earnings, which reduced household contributions to Social …-varying investment opportunities and countercyclical risky labor income dynamics. We show that households near retirement will reduce …

happiness research is able to contribute important insights for economics. We report how the economic variables income …, unemployment and inflation affect happiness as well as how institutional factors, in particular the type of democracy and the …