Our modeling of the drivers of well-being, along with the large and growing literature on “happiness economics,” helped us determine that the 0.38-point drop in Europeans’ life satisfaction (on a ten-point scale) during April translated into the equivalent of up to 3.5 times the continent’s reduction in income per capita.
To read the article, see “Well-being in Europe: Addressing the high cost of COVID-19 on life satisfaction,” June 9, 2020.