Lags and Leads in Life Satisfaction: A Test of the Baseline Hypothesis
利用德国面板数据，检验个体在经历生活与劳动力市场事件后是否回归基线幸福感水平，发现事件前后存在显著滞后与领先效应，且基线幸福感高者受负面事件冲击更大。
We use fourteen waves of the German panel data to ask whether individuals, after life and labour market events, return to some baseline wellbeing level. Although the strongest life satisfaction effect is often at the time of the event, significant lag and lead effects are present. Men are more affected by labour market events (unemployment and layoffs) and women by life events (marriage and divorce). Anticipation is an important component of individual wellbeing. Last, we show that happiness does not provide insurance against hard knocks: those with high baseline satisfaction are most adversely affected by negative events.