Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment

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Standard

Economic Shocks and Subjective Well-Being : Evidence from a Quasi-Experiment. / Hariri, Jacob Gerner; Bjørnskov, Christian; Kamp Justesen, Mogens.

In: The World Bank Economic Review, Vol. 30, No. 1, 2015, p. 55-77 .

Research output: Contribution to journal › Journal article › Research › peer-review

Harvard

Hariri, JG, Bjørnskov, C & Kamp Justesen, M 2015, 'Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment', The World Bank Economic Review, vol. 30, no. 1, pp. 55-77 . https://doi.org/10.1093/wber/lhv004

APA

Hariri, J. G., Bjørnskov, C., & Kamp Justesen, M. (2015). Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment. The World Bank Economic Review, 30(1), 55-77 . https://doi.org/10.1093/wber/lhv004

Vancouver

Hariri JG, Bjørnskov C, Kamp Justesen M. Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment. The World Bank Economic Review. 2015;30(1):55-77 . https://doi.org/10.1093/wber/lhv004

Author

Hariri, Jacob Gerner ; Bjørnskov, Christian ; Kamp Justesen, Mogens. / Economic Shocks and Subjective Well-Being : Evidence from a Quasi-Experiment. In: The World Bank Economic Review. 2015 ; Vol. 30, No. 1. pp. 55-77 .

Bibtex

@article{032c8450820b46f5899cdc301c90799c,
title = "Economic Shocks and Subjective Well-Being: Evidence from a Quasi-Experiment",
abstract = "This paper examines how economic shocks affect individual well-being in developing countries. Using the case of a sudden and unanticipated currency devaluation in Botswana as a quasi-experiment, we examine how this monetary shock affects individuals{\textquoteright} evaluations of well-being. We do so by using micro-level survey data, which – incidentally – was collected in the days surrounding the devaluation. The chance occurrence of the devaluation during the time of the survey enables us to use pre-treatment respondents, surveyed before the devaluation, as approximate counterfactuals for post-treatment respondents, surveyed after the devaluation. Our estimates show that the devaluation had a large and significantly negative effect on individuals{\textquoteright} evaluations of subjective well-being. These results suggest that macroeconomic shocks, such as unanticipated currency devaluations, may have significant short-term costs in the form of reductions in people{\textquoteright}s sense of well-being.",
author = "Hariri, {Jacob Gerner} and Christian Bj{\o}rnskov and {Kamp Justesen}, Mogens",
year = "2015",
doi = "10.1093/wber/lhv004",
language = "English",
volume = "30",
pages = "55--77 ",
journal = "World Bank Economic Review",
issn = "0258-6770",
publisher = "Oxford University Press",
number = "1",

}

RIS

TY - JOUR

T1 - Economic Shocks and Subjective Well-Being

T2 - Evidence from a Quasi-Experiment

AU - Hariri, Jacob Gerner

AU - Bjørnskov, Christian

AU - Kamp Justesen, Mogens

PY - 2015

Y1 - 2015

N2 - This paper examines how economic shocks affect individual well-being in developing countries. Using the case of a sudden and unanticipated currency devaluation in Botswana as a quasi-experiment, we examine how this monetary shock affects individuals’ evaluations of well-being. We do so by using micro-level survey data, which – incidentally – was collected in the days surrounding the devaluation. The chance occurrence of the devaluation during the time of the survey enables us to use pre-treatment respondents, surveyed before the devaluation, as approximate counterfactuals for post-treatment respondents, surveyed after the devaluation. Our estimates show that the devaluation had a large and significantly negative effect on individuals’ evaluations of subjective well-being. These results suggest that macroeconomic shocks, such as unanticipated currency devaluations, may have significant short-term costs in the form of reductions in people’s sense of well-being.

AB - This paper examines how economic shocks affect individual well-being in developing countries. Using the case of a sudden and unanticipated currency devaluation in Botswana as a quasi-experiment, we examine how this monetary shock affects individuals’ evaluations of well-being. We do so by using micro-level survey data, which – incidentally – was collected in the days surrounding the devaluation. The chance occurrence of the devaluation during the time of the survey enables us to use pre-treatment respondents, surveyed before the devaluation, as approximate counterfactuals for post-treatment respondents, surveyed after the devaluation. Our estimates show that the devaluation had a large and significantly negative effect on individuals’ evaluations of subjective well-being. These results suggest that macroeconomic shocks, such as unanticipated currency devaluations, may have significant short-term costs in the form of reductions in people’s sense of well-being.

U2 - 10.1093/wber/lhv004

DO - 10.1093/wber/lhv004

M3 - Journal article

VL - 30

SP - 55

EP - 77

JO - World Bank Economic Review

JF - World Bank Economic Review

SN - 0258-6770

IS - 1

ER -

ID: 50310195