@TechReport{iza:izadps:dp3654,
            	author={Stevenson, Betsey and Wolfers, Justin},
            	title={Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox},
            	year={2008},
	month={Aug},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={3654},
            	url={https://www.iza.org/publications/dp3654},
	abstract={The “Easterlin paradox” suggests that there is no link between a society’s economic development and its average level of happiness. We re-assess this paradox analyzing multiple rich datasets spanning many decades. Using recent data on a broader array of countries, we establish a clear positive link between average levels of subjective well-being and GDP per capita across countries, and find no evidence of a satiation point beyond which wealthier countries have no further increases in subjective well-being. We show that the estimated relationship is consistent across many datasets and is similar to the relationship between subject well-being and income observed within countries. Finally, examining the relationship between changes in subjective well-being and income over time within countries we find economic growth associated with rising happiness. Together these findings indicate a clear role for absolute income and a more limited role for relative income comparisons in determining happiness.},
	keywords={subjective well-being;Easterlin Paradox;life satisfaction;economic growth;well-being-income gradient;happiness;hedonic treadmill},
            }