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The marginal income effect of education on happiness: estimating the direct and indirect effects of compulsory schooling on well-being in Australia

Lekfuangfu, Warn N., Powdthavee, Nattavudh and Wooden, Mark (2013) The marginal income effect of education on happiness: estimating the direct and indirect effects of compulsory schooling on well-being in Australia. CEP Discussion Papers (CEPDP1214). Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

Many economists and educators favour public support for education on the premise that education improves the overall well-being of citizens. However, little is known about the causal pathways through which education shapes people’s subjective well-being (SWB). This paper explores the direct and indirect well-being effects of extra schooling induced through compulsory schooling laws in Australia. We find the net effect of schooling on later SWB to be positive, though this effect is larger and statistically more robust for men than for women. We then show that the compulsory schooling effect on male’s SWB is indirect and is mediated through income.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/_new/publications/series.asp?...
Additional Information: © 2013 The Authors
Divisions: Centre for Economic Performance
Subjects: H Social Sciences > HV Social pathology. Social and public welfare. Criminology
L Education > LB Theory and practice of education
R Medicine > RA Public aspects of medicine
JEL classification: C - Mathematical and Quantitative Methods > C3 - Econometric Methods: Multiple; Simultaneous Equation Models; Multiple Variables; Endogenous Regressors > C30 - General
I - Health, Education, and Welfare > I3 - Welfare and Poverty > I30 - General
I - Health, Education, and Welfare > I3 - Welfare and Poverty > I32 - Measurement and Analysis of Poverty
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Date Deposited: 08 Aug 2013 10:42
Last Modified: 30 Jan 2019 12:08
URI: http://eprints.lse.ac.uk/id/eprint/51552

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