We develop a theory that focuses on the general equilibrium and long-run macroeconomic consequences of trends in job utility--the process benefits and costs of work. Given secular increases in job utility, work hours per population can remain approximately constant over time even if the income...

What utility notion do self-reported well-being (SWB) questions measure? We clarify the assumptions that underlie existing applications regarding the (i) life domains, (ii) time horizons, and (iii) other-regarding preferences captured by SWB data. We ask survey respondents what they had in mind...