FINANCIAL DISTRESS AND HAPPINESS OF EMPLOYEES IN TIMES OF ECONOMIC CRISIS


E. Arampatzi, M. J. Burger and R. Veenhoven
Applied Economics Letters, online since July 24, 2014, DOI http://dx.doi.org/10.1080/13504851.2014.931916


Abstract
Using data for 28 European countries for the period 2008-2012, we provide robust evidence that worsening macroeconomic conditions are negatively associated with the life satisfaction of employees. In addition, we find that higher levels of regional unemployment and inflation are predominantly associated with lower levels of life satisfaction for those employees that are in a bad financial situation or expect that their future financial situation will be worse.

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