Economic Shocks and Subjective Well-Being

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Economic Shocks and Subjective Well-Being

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dc.contributor.author Hariri, Jacob Gerner
dc.contributor.author Bjørnskov, Christian
dc.contributor.author Justesen, Mogens K.
dc.date.accessioned 2015-05-06T07:10:08Z
dc.date.available 2015-05-06T07:10:08Z
dc.date.issued 2015-05-06
dc.identifier.uri http://hdl.handle.net/10398/9130
dc.description.abstract This article 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, the article examines how this monetary shock affects individuals’ evaluations of well-being. This is done by using microlevel survey data, which—incidentally— were collected in the days surrounding the devaluation. The chance occurrence of the devaluation during the time of the survey enables us to use pretreatment respondents, surveyed before the devaluation, as approximate counterfactuals for post-treatment respondents, surveyed after the devaluation. 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. en_US
dc.format.extent 39 en_US
dc.language eng en_US
dc.publisher World Bank Group en_US
dc.relation.ispartofseries Policy Research Working Paper;7209
dc.title Economic Shocks and Subjective Well-Being en_US
dc.type wp en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Department of Business and Politics en_US
dc.contributor.departmentshort DBP en_US
dc.contributor.departmentuk Department of Business and Politics en_US
dc.contributor.departmentukshort DBP en_US
dc.publisher.city www en_US
dc.publisher.year 2015 en_US
dc.title.subtitle Evidence from a Quasi-Experiment en_US


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