Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
970035 | The Journal of Socio-Economics | 2012 | 10 Pages |
Abstract
Using data from the United Sates National Longitudinal Survey of Youth (NLSY79) and following a two-stage method, the current study estimates wage, schooling and happiness equations simultaneously and demonstrates that happiness affects the worker's wage not only directly, but also indirectly through its direct effect on years of schooling. The simultaneous relation between happiness and schooling demonstrated in this study further suggests that schooling also affects wage both directly and indirectly through happiness. The study supports the argument presented in several earlier studies that higher income does not necessarily guarantee higher levels of happiness.
Related Topics
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Authors
Madhu S. Mohanty, Aman Ullah,