Macroeconomic Conditions and Well-being: Do Social Interactions Matter?

Emilio Colombo, Valentina Rotondi, Luca Stanca

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)

Abstract

We investigate the role played by social interactions in the transmission of the effects of macroeconomic conditions on well-being. Using survey data for a representative sample of Italian individuals, we find that social interactions play a dual role. On the one hand, the well-being of people who spend more time with their friends or go out more often is less sensitive to macroeconomic fluctuations. On the other hand, social interactions are negatively affected by worsening macroeconomic conditions, thus playing a relevant role in the transmission of macroeconomic shocks to subjective well-being. More specifically, the negative impact of downturns on the frequency of going out and active participation in associations significantly contributes to the adverse effects of recessions on satisfaction with life and with individual life domains.
Original languageEnglish
Pages (from-to)3029-3038
Number of pages10
JournalApplied Economics
Volume50
DOIs
Publication statusPublished - 2018

Keywords

  • Unemployment
  • social interactions
  • well-being

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