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Issues in the estimation of dynamic happiness models: A comment on "Does childhood predict adult life satisfaction?"

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  • Piper, Alan T.
  • Pugh, Geoffrey T.

Abstract

This paper offers methodological comments on a recent (November 2014) Economic Journal article. The comments consider its use of a dynamic model - the inclusion of a lagged dependent variable - and its approach to estimation. By way of critique, the authors highlight general issues regarding dynamic panel analysis that are still less fully appreciated in the economics of happiness literature than elsewhere in economics and other quantitative social sciences. This discussion of methodological issues arising from dynamic estimation may be of practical assistance to researchers new to the field and/or to dynamic modelling.

Suggested Citation

  • Piper, Alan T. & Pugh, Geoffrey T., 2016. "Issues in the estimation of dynamic happiness models: A comment on "Does childhood predict adult life satisfaction?"," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 10, pages 1-6.
    • Handle: RePEc:zbw:ifweej:20165
    DOI: 10.5018/economics-ejournal.ja.2016-5
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    1. repec:hal:pseose:halshs-01109062 is not listed on IDEAS
    2. Michael A. Clemens & Steven Radelet & Rikhil Bhavnani, 2004. "Counting chickens when they hatch: The short-term effect of aid on growth," International Finance 0407010, University Library of Munich, Germany.
    3. Stephen Bond, 2002. "Dynamic panel data models: a guide to microdata methods and practice," CeMMAP working papers CWP09/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
    4. Piper, Alan T., 2015. "Sliding down the U-shape? A dynamic panel investigation of the age-well-being relationship, focusing on young adults," Social Science & Medicine, Elsevier, vol. 143(C), pages 54-61.
    5. Richard Layard & Andrew E. Clark & Francesca Cornaglia & Nattavudh Powdthavee & James Vernoit, 2014. "What Predicts a Successful Life? A Life‐course Model of Well‐being," Economic Journal, Royal Economic Society, vol. 124(580), pages 720-738, November.
    6. Michael Clemens & Samuel Bazzi, 2009. "Blunt Instruments: On Establishing the Causes of Economic Growth," Working Papers 171, Center for Global Development.
    7. Stephen R. Bond, 2002. "Dynamic panel data models: a guide to micro data methods and practice," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 1(2), pages 141-162, August.
    8. Paul Frijters & David W. Johnston & Michael A. Shields, 2014. "Does Childhood Predict Adult Life Satisfaction? Evidence from British Cohort Surveys," Economic Journal, Royal Economic Society, vol. 124(580), pages 688-719, November.
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    Cited by:

    1. Piper, Alan T., 2014. "The Benefits, Challenges and Insights of a Dynamic Panel assessment of Life Satisfaction," MPRA Paper 59556, University Library of Munich, Germany.
    2. Alan Piper, 2018. "Adult life satisfaction largely (though not wholly) contemporaneous," Discussion Papers 028, Europa-Universität Flensburg, International Institute of Management.
    3. Piper, Alan T., 2018. "Adult life satisfaction: largely (though not wholly) contemporaneous? A System General Method of Moments dynamic panel analysis," MPRA Paper 85601, University Library of Munich, Germany.
    4. Alan Piper, 2023. "What Does Dynamic Panel Analysis Tell Us About Life Satisfaction?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 69(2), pages 376-394, June.

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    More about this item

    Keywords

    life Satisfaction; dynamic panel analysis; GMM;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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