How does relative income and variations in short-run wellbeing affect wellbeing in the long run? Empirical evidence from China's Korean minority

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Abstract

Cognitively appraised life satisfaction is relatively stable over time and can be considered as reflecting subjective wellbeing in the long run. Affect is transitory and can be considered as reflecting subjective wellbeing in the short run. Using the Personal Wellbeing Index to measure cognitively appraised life satisfaction and the Positive and Negative Affect Schedule to measure positive and negative affect we examine how income relative to one?s comparator group and variations in short run wellbeing impact upon wellbeing in the long run. We do so for China?s Korean ethnic minority. We find that affective state has an effect on wellbeing in the long run and that a negative shock to affectivity is more persistent than a positive shock. We also find that relative income, rather than absolute income, matters for wellbeing in the long run and that the results are consistent with a status effect.
Original languageEnglish
Pages (from-to)67 - 91
Number of pages25
JournalSocial Indicators Research
Volume115
Issue number1
DOIs
Publication statusPublished - 2014

Cite this

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title = "How does relative income and variations in short-run wellbeing affect wellbeing in the long run? Empirical evidence from China's Korean minority",
abstract = "Cognitively appraised life satisfaction is relatively stable over time and can be considered as reflecting subjective wellbeing in the long run. Affect is transitory and can be considered as reflecting subjective wellbeing in the short run. Using the Personal Wellbeing Index to measure cognitively appraised life satisfaction and the Positive and Negative Affect Schedule to measure positive and negative affect we examine how income relative to one?s comparator group and variations in short run wellbeing impact upon wellbeing in the long run. We do so for China?s Korean ethnic minority. We find that affective state has an effect on wellbeing in the long run and that a negative shock to affectivity is more persistent than a positive shock. We also find that relative income, rather than absolute income, matters for wellbeing in the long run and that the results are consistent with a status effect.",
author = "Vinod Mishra and Nielsen, {Ingrid Louise} and Smyth, {Russell Leigh}",
year = "2014",
doi = "10.1007/s11205-012-0209-3",
language = "English",
volume = "115",
pages = "67 -- 91",
journal = "Social Indicators Research",
issn = "0303-8300",
publisher = "Springer-Verlag London Ltd.",
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TY - JOUR

T1 - How does relative income and variations in short-run wellbeing affect wellbeing in the long run? Empirical evidence from China's Korean minority

AU - Mishra, Vinod

AU - Nielsen, Ingrid Louise

AU - Smyth, Russell Leigh

PY - 2014

Y1 - 2014

N2 - Cognitively appraised life satisfaction is relatively stable over time and can be considered as reflecting subjective wellbeing in the long run. Affect is transitory and can be considered as reflecting subjective wellbeing in the short run. Using the Personal Wellbeing Index to measure cognitively appraised life satisfaction and the Positive and Negative Affect Schedule to measure positive and negative affect we examine how income relative to one?s comparator group and variations in short run wellbeing impact upon wellbeing in the long run. We do so for China?s Korean ethnic minority. We find that affective state has an effect on wellbeing in the long run and that a negative shock to affectivity is more persistent than a positive shock. We also find that relative income, rather than absolute income, matters for wellbeing in the long run and that the results are consistent with a status effect.

AB - Cognitively appraised life satisfaction is relatively stable over time and can be considered as reflecting subjective wellbeing in the long run. Affect is transitory and can be considered as reflecting subjective wellbeing in the short run. Using the Personal Wellbeing Index to measure cognitively appraised life satisfaction and the Positive and Negative Affect Schedule to measure positive and negative affect we examine how income relative to one?s comparator group and variations in short run wellbeing impact upon wellbeing in the long run. We do so for China?s Korean ethnic minority. We find that affective state has an effect on wellbeing in the long run and that a negative shock to affectivity is more persistent than a positive shock. We also find that relative income, rather than absolute income, matters for wellbeing in the long run and that the results are consistent with a status effect.

U2 - 10.1007/s11205-012-0209-3

DO - 10.1007/s11205-012-0209-3

M3 - Article

VL - 115

SP - 67

EP - 91

JO - Social Indicators Research

JF - Social Indicators Research

SN - 0303-8300

IS - 1

ER -