De Neve Jan-Emmanuel, Ward George, De Keulenaer Femke, Van Landeghem Bert, Kavetsos Georgios, Norton Michael I
University of Oxford.
Massachusetts Institute of Technology and Centre for Economic Performance (LSE).
Rev Econ Stat. 2018 May;100(2):362-375. doi: 10.1162/REST_a_00697. Epub 2018 May 4.
Are individuals more sensitive to losses than gains in terms of economic growth? We find that measures of subjective well-being are more than twice as sensitive to negative as compared to positive economic growth. We use Gallup World Poll data from over 150 countries, BRFSS data on 2.3 million US respondents, and Eurobarometer data that cover multiple business cycles over four decades. This research provides a new perspective on the welfare cost of business cycles, with implications for growth policy and the nature of the long-run relationship between GDP and subjective well-being.
就经济增长而言，个体对损失比对收益更敏感吗？我们发现，主观幸福感指标对经济负增长的敏感程度是对正增长的两倍多。我们使用了来自150多个国家的盖洛普世界民意调查数据、230万美国受访者的行为风险因素监测系统（BRFSS）数据，以及涵盖四十多年多个商业周期的欧洲晴雨表数据。这项研究为商业周期的福利成本提供了一个新视角，对增长政策以及GDP与主观幸福感之间长期关系的性质具有启示意义。
