This paper summarizes evidence for the existence of a wage curve - a downward-sloping relationship between the level of pay and the local unemployment rate - in modern micro data. At the time of writing, the curve has been found in 40 nations. Its elasticity is approximately -0.1

This paper proposes a new way to think about happiness. It distinguishes between stocks and flows. Central to the analysis is a concept we call 'hedonic capital'. The paper sets out a model of the dynamics of wellbeing in which bad life-shocks are smoothed by the drawing down of hedonic capital....

Some commentators argue for a fairly general release from COVID-19 lockdown. That has a troubling flaw. It ignores the fatality risks that will then be faced by citizens in midlife and older. This paper provides information on the strong age-pattern in the risk of death from three countries...

This paper studies the mental distress caused by bereavement. The largest emotional losses are from the death of a spouse; the second-worst in severity are the losses from the death of a child; the third-worst is the death of a parent. The paper explores how happiness regression equations might be...

We explore the idea that happiness and psychological well-being are U-shaped in age. The main difficulty with this argument is that there are likely to be omitted cohort effects (earlier generations may have been born in, say, particularly good or bad times). First, using data on 500,000...

Nearly 100 years ago, the philosopher and mathematician Bertrand Russell warned of the social dangers of widespread envy. One view of modern society is that it is systematically developing a set of institutions - such as social media and new forms of advertising - that make people feel...

Using seven recent data sets, covering 51 countries and 1.3 million randomly sampled people, the paper examines the pattern of psychological well-being from approximately age 20 to age 90. Two conceptual approaches to this issue are possible. Despite what has been argued in the literature,...

Women typically earn less than men. The reasons are not fully understood. Previous studies argue that this may be because (i) women 'don't ask' and (ii) the reason they fail to ask is out of concern for the quality of their relationships at work. This account is difficult to assess with standard...

IZA DP No. 3139 What Makes a Young Entrepreneur? David G. Blanchflower Andrew J. Oswald DISCUSSION P APER SERIES Forschungsinstitut zur Zukunft der Arbeit Institute for the Study of Labor November 2007 What Makes a Young Entrepreneur? David G. Blanchflower Dartmouth College, NBER,...