The Asymmetric Experience of Positive and Negative Economic Growth: Global Evidence Using Subjective Well-Being Data
研究发现主观幸福感对负经济增长的敏感度是正增长的两倍以上，基于盖洛普世界民意调查、BRFSS和欧洲晴雨表数据，为商业周期福利成本提供新视角。
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.