Education, income and happiness: panel evidence for the UK

Publication type

Research Paper

Authors

Felix FitzRoy and Michael Nolan

Publication date

Series Number

11185

Summary

Using panel data from the BHPS and its Understanding Society extension, we study life satisfaction (LS) and income over nearly two decades, for samples split by education, and age – to our knowledge for the first time. The highly educated went from lowest to highest LS, though their average income was always higher. In spite of rapid income growth up to 2008/09, the less educated showed no rise in LS, while highly educated LS rose after the crash despite declining real income. In panel LS regressions with individual fixed effects, none of the income variables was significant for the highly educated.

Subjects

Psychology, Education, Economics, Income Dynamics, Well Being, Life Course Analysis and Higher Education

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Related Publications

  1. Education, income and happiness: panel evidence for the UK