The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel
This study seeks to investigate the economic antecedents of happiness by employing the Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) estimators to analyse a set of macro panel data on selected OECD countries for 40 years from 1973 to 2012. The results show evidence tha...
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| Format: | Article |
| Language: | English |
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American Scientific Publishers
2015
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| Online Access: | http://psasir.upm.edu.my/id/eprint/46546/ http://psasir.upm.edu.my/id/eprint/46546/1/The%20economic%20antecedents%20of%20human%20well%20being%20a%20pooled%20mean%20group%20estimation%20of%20dynamic%20heterogeneous%20panel.pdf |
| _version_ | 1848850683708571648 |
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| author | Rasiah, R. R. V. Habibullah, Muzafar Shah Baharom, A. H. |
| author_facet | Rasiah, R. R. V. Habibullah, Muzafar Shah Baharom, A. H. |
| author_sort | Rasiah, R. R. V. |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This study seeks to investigate the economic antecedents of happiness by employing the Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) estimators to analyse a set of macro panel data on selected OECD countries for 40 years from 1973 to 2012. The results show evidence that income and unemployment have a favourable impact on happiness, while happiness is hindered by inflation and income inequality. Surprisingly, the study revealed that institutional quality is not a significant antecedent of happiness. It is worth noting the importance of the reference group theory or relative theory of happiness and the set-point theory of happiness in explaining the role played by income, unemployment, inflation, income inequality and institutional quality in explaining human well-being. |
| first_indexed | 2025-11-15T10:10:11Z |
| format | Article |
| id | upm-46546 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T10:10:11Z |
| publishDate | 2015 |
| publisher | American Scientific Publishers |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-465462018-02-26T06:42:18Z http://psasir.upm.edu.my/id/eprint/46546/ The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel Rasiah, R. R. V. Habibullah, Muzafar Shah Baharom, A. H. This study seeks to investigate the economic antecedents of happiness by employing the Mean Group (MG), Pooled Mean Group (PMG) and the Dynamic Fixed Effects (DFE) estimators to analyse a set of macro panel data on selected OECD countries for 40 years from 1973 to 2012. The results show evidence that income and unemployment have a favourable impact on happiness, while happiness is hindered by inflation and income inequality. Surprisingly, the study revealed that institutional quality is not a significant antecedent of happiness. It is worth noting the importance of the reference group theory or relative theory of happiness and the set-point theory of happiness in explaining the role played by income, unemployment, inflation, income inequality and institutional quality in explaining human well-being. American Scientific Publishers 2015 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/46546/1/The%20economic%20antecedents%20of%20human%20well%20being%20a%20pooled%20mean%20group%20estimation%20of%20dynamic%20heterogeneous%20panel.pdf Rasiah, R. R. V. and Habibullah, Muzafar Shah and Baharom, A. H. (2015) The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel. Advanced Science Letters, 21 (5). pp. 1158-1161. ISSN 1936-6612; ESSN: 1936-7317 http://www.aspbs.com/science.htm 10.1166/asl.2015.6015 |
| spellingShingle | Rasiah, R. R. V. Habibullah, Muzafar Shah Baharom, A. H. The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title | The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title_full | The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title_fullStr | The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title_full_unstemmed | The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title_short | The economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| title_sort | economic antecedents of human well being: a pooled mean group estimation of dynamic heterogeneous panel |
| url | http://psasir.upm.edu.my/id/eprint/46546/ http://psasir.upm.edu.my/id/eprint/46546/ http://psasir.upm.edu.my/id/eprint/46546/ http://psasir.upm.edu.my/id/eprint/46546/1/The%20economic%20antecedents%20of%20human%20well%20being%20a%20pooled%20mean%20group%20estimation%20of%20dynamic%20heterogeneous%20panel.pdf |