The Impact of COVID-19 on Subjective Well-Being: Evidence from Singapore

Arbeitspapier

We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in overall life satisfaction almost twice as large as those who do not report any income loss.

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• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 13702

Classification and Topics

• Classification: Wirtschaft ; Health Behavior ; General Welfare; Well-Being
• Subject: COVID-19 ; pandemic ; life satisfaction ; subjective well-being ; individual-level monthly panel data ; difference-in-differences

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Cheng, Terence Chai ; Kim, Seonghoon ; Koh, Kanghyock
• Event: Veröffentlichung
• (who): Institute of Labor Economics (IZA)
• (where): Bonn
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/227229