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Subjective Welfare, Isolation and Relative Consumption.

Abstract:

The recent literature has shown that subjective welfare depends on relative income. Attempts to test this relationship in poor countries have yielded conflicting results, suggesting that the relationship is not universal or only applies above a certain income level. We revisit the issue using data from Nepal. We find a relative consumption effect that is robust, strong in magnitude, and consistent across consumption expenditure categories. We find no evidence that poor households--in a relati...

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Publisher:
CEPR
Series:
C.E.P.R. Discussion Papers
Publication date:
2006-01-01
Language:
English
UUID:
uuid:3895f788-055e-4395-9eed-4f7271b1d191
Local pid:
oai:economics.ouls.ox.ac.uk:11578
Deposit date:
2011-08-16

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