Redistribution of Income Inequality and Self-rated Happiness: Some Empirical Evidence
Sammanfattning: In this paper, combined data from the World Value Survey and OECD, covering 23 countries and a large time span, is used to study the effect of the level of redistribution on individual well-being. Results indicate that individuals are more likely to report themselves happy in the presence of higher levels of redistribution, even after controlling for various individual and macroeconomic characteristics, including year and country dummies. However, additional aspects needs to be taken into consideration when contemplating the impact of redistribution policies such as its effect on unemployment.
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