The impact of drinking on psychological well-being: Evidence from minimum drinking age laws in the United States

► The relationship between drinking and psychological well-being among young adults is investigated. ► Young adults tend to drink on average 1.5 days per month more once they are granted legal access to alcohol at age 21. ► In general, several indicators of psychological well-being among young adults exhibit similar trends before and after the minimum legal drinking age (MLDA). ► The MLDA law does not appear to have an immediate negative spillover effect on several self-reported psychological well-being indicators of young adults. ► The strengths and limitations of a regression discontinuity design for the estimation of the effect of the MLDA on alcohol consumption and psychological well-being are discussed.