Antidepressants as a commodity have been remarkably little-studied by economists. This study shows in new data for 27 European countries that 8% of people (and 10% of those middle-aged) take antidepressants each year. The probability of antidepressant use is greatest among those who are...

According to the well-being measure known as the U.N. Human Development Index, Australia now ranks 3rd in the world and higher than all other English-speaking nations. This paper questions that assessment. It reviews work on the economics of happiness, considers implications for policymakers,...

Some firms say they care about the happiness and ‘well-being’ of their employees. But are such claims hype? Or might they be scientific good sense? This study provides evidence that happiness makes people more productive. First, we examine fundamental real-world shocks (bereavement and...

The question of whether there is a connection between income and psychological well-being is a long-studied issue across the social, psychological, and behavioral sciences. Much research has found that richer people tend to be happier. However, relatively little attention has been paid to...

The paper studies the micro-economics of inflation taxes and marginal employment subsidies. It proves under very weak assumptions (i) an inflation tax will reduce the long-run equilibrium wage or price and (ii) that a marginal employment subsidy will raise the long-run equilibrium employment...

If a nation's economic performance improves, how much extra happiness does that buy its citizens? Most public debate assumes - without real evidence - that the answer is a lot. This paper examines the question by using information on well-being in Western countries. The data are of four kinds :...

Is the labor market well-approximated by a competitive model or is wage determination instead a kind of non-competitive rent-sharing? This unsettles question lies at the heart of labor economics and macroeconomics. The paper argues that new research -- drawing upon data of a kind not available...

This article uses various micro data sets to study entrepreneurship. Consistent with the existence of capital constraints on potential entrepreneurs, the estimates imply that the probability of self-employment depends positively upon whether the individual ever received an inheritance or gift....

The paper surveys the theoretical and empirical literature on the economic effects of profit sharing between workers and firms. It is critical of the case for government subsidization of such sharing schemes. Copyright 1987 by Royal Economic Society.

This paper estimates that, in 1984, 43 percent of British private sector establishments had some form of profit- related pay. Regression results do not show that these establishments had statistically-significant better financial performance. Cross-ta bulations do not suggest that the...