TY  - RPRT
        AU  - Headey, Bruce
AU  - Wooden, Mark
        TI  - The Effects of Wealth and Income on Subjective Well-Being and Ill-Being
        PY  - 2004/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1032
        UR  - https://www.iza.org/index.php/publications/dp1032
        AB  - The accepted view among psychologists and economists alike is that household income has
statistically significant but only small effects on measures of subjective well-being. Income,
however, is clearly an imperfect measure of the economic circumstances of households.
Using data drawn from the 2001 and 2002 waves of the Household, Income and Labour
Dynamics in Australia (HILDA) Survey, this paper demonstrates that wealth, which can be
viewed as providing a degree of economic security, is at least as important to well-being and
ill-being as income.
        KW  - subjective well-being
KW  - life satisfaction
KW  - income
KW  - wealth
        ER  -