The Mid-Life Dip in Well-Being: Economists (Who Find It) Versus Psychologists (Who Don't)! / David G. Blanchflower, Carol L. Graham.

Format:

Book

Author/Creator:

Blanchflower, David G.

Contributor:

National Bureau of Economic Research.

Graham, Carol L.

Series:

Working Paper Series (National Bureau of Economic Research) no. w26888.

NBER working paper series no. w26888

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Mid-Life Dip in Well-Being

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2020.

Summary:

A number of studies - including our own - find a mid-life dip in well-being. We review a psychology literature that claims that the evidence of a U-shape is "overblown" and if there is such a decline it is "trivial". We find remarkably strong and consistent evidence across countries and US states that statistically significant U-shapes exist with and without socio-economic controls. The US is somewhat of an outlier with evidence of an early uptick in the raw data with some variables - but not in others - that disappears when controls are included. We show that two of the studies cited by psychologists suggesting there are no U-shapes are in error; we use their data and find the opposite. The effects of the mid-life dip are comparable to major life events like losing a spouse, losing a job or getting cancer. They are clearly not inconsequential.

Notes:

Print version record

March 2020.