| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13622 |
| 来源ID | Working Paper 13622 |
| Happiness, Contentment and Other Emotions for Central Banks | |
| Rafael Di Tella; Robert MacCulloch | |
| 发表日期 | 2007-11-28 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We show that data on satisfaction with life from over 600,000 Europeans are negatively correlated with the unemployment rate and the inflation rate. Our preferred interpretation is that this shows that emotions are affected by macroeconomic fluctuations. Contentment is, at a minimum, one of the important emotions that central banks should focus on. More ambitiously, contentment might be considered one of the components of utility. The results may help central banks understand the tradeoffs that the public is willing to accept in terms of unemployment for inflation, at least in terms of keeping the average level of one particular emotion (contentment) constant. An alternative use of these data is to study the particular channels through which macroeconomics affects emotions. Finally, work in economics on the design of monetary policy makes several assumptions (e.g., a representative agent, a summary measure of emotions akin to utility exists and that individuals only care about income and leisure) that can be used to interpret our results as weights in a social loss function. |
| 主题 | Macroeconomics ; Monetary Policy ; Public Economics |
| URL | https://www.nber.org/papers/w13622 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571305 |
| 推荐引用方式 GB/T 7714 | Rafael Di Tella,Robert MacCulloch. Happiness, Contentment and Other Emotions for Central Banks. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13622.pdf（349KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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