Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/17266
Longitudinal Study: HILDA
Title: Well-Being and Ill-Being: A Bivariate Panel Data Analysis
Authors: Lee, W 
Oguzoglu, U 
Institution: Melbourne Institute of Applied Economic and Social Research
Issue Date: Oct-2007
Pages: 25
Abstract: The aim of this paper is to estimate in a multivariate context the factors associated with well-being and ill-being without making the assumptions that they are opposite ends of the same continuum, and that the factors uniformly affect both well-being and ill-being. Using the first five waves of panel data from the Household, Income and Labour Dynamics in Australia (HILDA) survey, we jointly model positive and negative wellbeing in a two-equation dynamic panel data model. We found that while past ill-being had a significant effect on current well-being there was no support for a reverse relationship (i.e. lagged effect of well-being on current ill-being). In addition, we also found support for asymmetry in how certain factors affect well-being and ill-being. The implication of the findings in this paper for the happiness literature is that for future empirical work, it would perhaps more prudent to begin with the notion that well-being and ill-being are distinct dimensions, that the unobservables that affect well-being and ill-being are correlated, and to specify econometric models that allow for these concepts to be reflected.
URL: http://www.melbourneinstitute.com/hilda
ISBN: ISSN 1328-4991 (Print) ISSN 1447-5863 (Online) ISBN 978-0-7340-3260-7
Research collection: Reports and technical papers
Technical working papers and reports
Appears in Collections:Reports

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