Table 6.
Eurobarometer 1973–2013 - Addition of main macroeconomic indicators
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
|---|---|---|---|---|---|---|---|---|
| “On the whole, how satisfied are you with the life you lead?” | ||||||||
| Economic Growth | 2.172*** | 1.253*** | 2.198*** | 1.263*** | ||||
| (0.415) | (0.333) | (0.386) | (0.333) | |||||
| Negative Growth | −5.570*** | −3.687*** | −5.181*** | −3.688*** | ||||
| (1.227) | (0.910) | (1.199) | (0.921) | |||||
| Positive Growth | 0.814** | 0.360 | 1.025*** | 0.359 | ||||
| (0.392) | (0.342) | (0.361) | (0.349) | |||||
| GDP per capita (log) | 0.252*** | 0.239*** | −0.011 | −0.009 | ||||
| (0.079) | (0.074) | (0.071) | (0.067) | |||||
| Unemployment Rate | −2.417*** | −2.274*** | −2.382*** | −2.290*** | ||||
| (0.235) | (0.214) | (0.256) | (0.236) | |||||
| Inflation Rate | 1.133*** | 0.930*** | 0.113 | −0.010 | ||||
| (0.308) | (0.286) | (0.247) | (0.250) | |||||
| Country and Wave FEs | X | x | x | x | x | x | x | x |
| Individual Controls | X | x | x | x | x | x | x | x |
| Countries | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| Country-years | 508 | 508 | 508 | 508 | 508 | 508 | 508 | 508 |
| Individuals | 1,092,999 | 1,092,999 | 1,092,999 | 1,092,999 | 1,092,999 | 1,092,999 | 1,092,999 | 1,092,999 |
| R2 | 0.030 | 0.031 | 0.033 | 0.034 | 0.031 | 0.031 | 0.033 | 0.034 |
Robust standard errors in parentheses, adjusted for clustering at the country-year level. Life satisfaction responses are standardised (mean=0, SD=1). Country fixed effects and survey wave dummies are included in all models. All regressions include individual-level controls: age, age-squared, education level, gender, marital status. Negative and Positive Growth terms are splines, such that negative (positive) growth is equal to the absolute value of the growth rate when it is negative (positive) and zero otherwise.
*
p < 0.1
**
p < 0.05
***
p < 0.01.