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What Can Economists Learn from Happiness Research?

机译:经济学家可以从幸福研究中学到什么?

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Happiness is generally considered an ultimate goal of life; virtually everybody wants to be happy. The United States Declaration of Independence of 1776 takes it as a self-evident truth that the "pursuit of happiness" is an "unalienable right," comparable to life and liberty. It follows that economics is―or should be―about individual happiness; in particular, how do economic growth, unemployment and inflation, and institutional factors such as governance affect individual well-being? In addition to this intrinsic interest, there are important reasons for economists to consider happiness research. The first is economic policy. At the micro-level, it is often impossible to make a Pareto-improving proposal, because a social action entails costs for some individuals. Hence an evaluation of the net effects, in terms of individual utilities, is needed. On an aggregate level, economic policy must deal with trade-offs, especially those between unemployment and inflation. Data for twelve European countries for the period 1975-91 show that a 1-percentage-point increase in the unemployment rate is marginally compensated for by a 1.7-percentage-point decrease in inflation (Rafael Di Telia, Robert MacCulloch, and Andrew Oswald 2001). This result significantly deviates from the "misery index" that, for lack of information, has simply been defined as the sum of the percent unemployment rate and the percent annual inflation rate. Another trade-off that can be calculated on the basis of estimated happiness functions is the compensating variation for being unemployed rather than holding a job. For the same European countries referred to above, a move from the lowest income quartile to the highest income quartile would not be enough to offset the adverse effect of unemployment, suggesting that unemployed people suffer high non-pecuniary costs. Happiness research can thus usefully inform economic policy decisions.
机译:幸福通常被认为是人生的最终目标。几乎每个人都想快乐。 1776年的《美国独立宣言》将“追求幸福”是一种“不可剥夺的权利”,与生命和自由相提并论,这是不言而喻的真理。因此,经济学是关于或应该关于个体幸福的。尤其是经济增长,失业和通货膨胀以及治理等制度因素如何影响个人福祉?除了这种内在的兴趣,经济学家还考虑进行幸福研究的重要原因。首先是经济政策。在微观层面上,通常不可能提出改善帕累托的提议,因为一项社会行为会使某些人付出代价。因此,需要对各个效用的净效应进行评估。总体而言,经济政策必须处理权衡问题,尤其是在失业与通货膨胀之间进行权衡。 1975-91年间12个欧洲国家的数据显示,通货膨胀率下降1.7个百分点,可以部分抵消失业率上升1个百分点的影响(拉斐尔·迪·泰利亚,罗伯特·麦克库洛克和安德鲁·奥斯瓦尔德2001) )。该结果明显不同于“苦难指数”,后者由于缺乏信息而被简单地定义为失业率百分比和年度通胀率百分比之和。可以基于估计的幸福函数来计算的另一个权衡是失业而不是工作的补偿性变化。对于上述相同的欧洲国家,从最低收入四分位数向最高收入四分位数的转变不足以抵消失业的不利影响,这表明失业者承受着高昂的非金钱成本。因此,幸福研究可以为经济政策决策提供有用的信息。

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