Results

CEP discussion paper

Intergenerational income persistence in the Millennial generation

This paper provides new evidence on intergenerational income persistence for a recent UK cohort. Using Next Steps, a longitudinal study of people born in England in 1989-90 linked to administrative education records, we ...Read more...

CEP discussion paper

Dynamic effects of trade

The existence of aggregate welfare gains from trade is one of the classic insights from international economics. However, these conventional welfare gains are static, in the sense that they take existing factor supplies ...Read more...

Blog

LSE British politics:

Burnham's Manchesterism can help universities drive local growth

Andy Burnham recently acknowledged that UK universities are capable of driving innovation and economic growth. But their ability to do so is being undermined by a higher education funding crisis. Manchesterism, with its ...Read more...

Journal article

American Economic Review:

Leaders in social movements: evidence from unions in Myanmar

Social movements are catalysts for crucial institutional changes. To succeed, they must coordinate members' views (consensus building) and actions (mobilization). We study union leaders within Myanmar's burgeoning labor ...Read more...

CEP report

Hive of talent: what would it take to raise skills and productivity in Greater Manchester?

Finding enough highly-skilled workers to enable Greater Manchester to make a serious dent in its productivity gap with London will require action that goes beyond skills policy alone, a new report from the Centre for Eco...Read more...

Journal article

The Economic Journal:

Train to opportunity: the effect of infrastructure on intergenerational mobility

Can transport infrastructure expand long-term labour opportunities and weaken the occupational link between parents and children? We estimate the causal effect of railway access on occupational attainment and intergenera...Read more...

Journal article

The Quarterly Journal of Economics:

Making the invisible hand visible: managers and the allocation of workers to jobs

Why do managers matter for firm performance? This article provides evidence of the critical role of managers in matching workers to jobs within the firm using the universe of personnel records from a large multinational ...Read more...

CEP discussion paper

Internal pay equity and the quantity-quality trade-off in hiring

Firms face significant constraints in their ability to differentiate pay by worker productivity. We show how these internal equity constraints generate a quantity-quality trade-off in hiring: firms which offer higher wag...Read more...

CEP discussion paper

GRAPH-EE: building employer - employee panels from a knowledge graph and company microdata

Linked employer-employee datasets are a hugely powerful tool for researchers and policymakers across the social sciences. However, access to such data is typically highly restricted and the quality of data varies substan...Read more...

Journal article

Journal of Labor Economics:

The causal effect of an income shock on children's human capital

We investigate the causal impact of a generous unconditional cash transfer at birth on children's health and academic performance. Using rich administrative data, we take advantage of the unexpected introduction of a ?ba...Read more...

Journal article

Nature Communications:

Social status and the relationship between income rank and well-being in 109 nations

Well-being is linked to income. However, lower well-being among lower-income individuals may reflect either economic relative deprivation or the lower social status associated with a lower income rank. Here, using Gallup...Read more...

Journal article

Journal of International Economics:

Liquidity as competitive advantage: the role of intangibles

We show that short-term liquidity can be a source of competitive advantage by enabling firms to invest in intangible assets. Our analysis leverages a French reform that capped payment delays in trade credit contracts, wh...Read more...

CentrePiece article

Skills in the age of AI

A focus on wellbeing at work can help employees thrive....Read more...

Chapter

Labour markets and the future of work

in The London Consensus

New technologies are causing a restructuring of labour markets in many countries. While much has been written on how these technologies may destroy jobs, this chapter argues that they do not threaten the end of work but ...Read more...

Journal article

The Economic Journal:

Manipulation and selection in unemployment insurance

In this paper, we study the selection patterns of individuals who manage to have their lay-off delayed around an age at lay-off threshold entitling them to four additional months of unemployment insurance, that is, manip...Read more...

Journal article

Canadian Journal of Economics:

Evaluating the impact of export finance support on firm-level export performance: evidence from Pakistan

This paper evaluates the impact of two large export finance support schemes on firm-level export performance. The Export Finance Scheme (EFS) and the Long-Term Finance Facility for Plant & Machinery (LTFF) provide loans ...Read more...

Blog

What Works Centre for Local Economic Growth:

Understanding the drivers of productivity: Capital

This blog is the second in our new series on the drivers of productivity. The drivers of productivity include skills, capital, innovation, enterprise and competition, and land. This blog focuses on capital, and complemen...Read more...

Blog

What works centre for local economic growth:

Understanding the drivers of productivity: Skills

This blog is the first in our new series on the drivers of productivity. The drivers of productivity include skills, investment, innovation, enterprise and competition, and land. This blog focuses on skills, and compleme...Read more...

Journal article

American Economic Journal: Economic Policy:

The making of civic virtues: a school-based experiment in three countries

This paper shows that schools can foster the transmission of civic virtues by helping students to develop concrete, democratically chosen, collective projects. We draw on a RCT implemented in 200 middle schools in three ...Read more...

CEP discussion paper

Who is my neighbour? Short-term renting and civic engagement in London

Urbanization has transformed cities into the economic hubs of high-income countries, yet concerns about declining social capital persist. This paper investigates the impact of changes in neighbourhood composition on soci...Read more...

Journal article

Journal of Human Resources:

Fiscal and education spillovers from charter school expansion

Do charter schools drain resources and high-achieving peers from noncharter schools? We provide new evidence on the fiscal and educational consequences of charter expansion for noncharter students in Massachusetts, which...Read more...

CentrePiece article

in brief... How the Trump tariffs affect UK firms

How should UK exporters react to the tariffs imposed by President Trump? While some may start planning to increase production in the United States to avoid the tax, others whose US customers are less price-sensitive may ...Read more...

CentrePiece article

The benefits of elite universities are more social than academic

From Cambridge and Oxford to Harvard and Yale, elite universities are a feature of many education systems. Andres Barrios Fernandez, Christopher Neilson and Seth Zimmerman ask whether these institutions of higher educati...Read more...

External report

A joined-up approach to UK skills policy

It is generally accepted that skills are a key driver of economic productivity and economic dynamism. They are a means by which individuals and communities can become resilient to social and economic change and are a key...Read more...

Blog

LSE Business Review:

How the Trump tariffs affect UK firms

How should UK exporters react to the tariffs imposed by President Trump? Some manufacturers may decide to increase production in the US, but those with loyal US consumers who are relatively insensitive to price changes m...Read more...

Blog

The Conversation:

Why sharing meals can make people happier - what evidence from 142 countries shows

The importance of sharing meals is recognised across cultures, from the Jewish Shabbat meal to the fast-breaking Iftar meals during Ramadan. The known link between food and social relationships is ancient. The English wo...Read more...

Government consultation

Education committee - Further education and skills

The further education sector is currently navigating a series of reforms and challenges. In this inquiry the Education Committee will explore these issues and other pressures currently facing the further education sector...Read more...

Blog

MIT Sloan Management Review:

Reskilling the Workforce With AI: Harvard Business School's Raffaella Sadun (podcast)

Harvard Business School professor Raffaella Sadun's research has historically focused on digital reskilling. Now, rapid technological changes - like AI - are reshaping the nature of work. Raffaella's research has explore...Read more...

Blog

Academy of Social Sciences:

Policies to promote productivity and wage growth for less educated workers

In this piece, Professor Richard Blundell FAcSS, Professor Rachel Griffith FAcSS and Professor Sally McNally explore how improving educational outcomes for children growing up in deprivation, including social skills in t...Read more...

Journal article

Economics of Education: An Introductory Textbook:

Gender gaps in education

International data stubbornly show that boys perform worse than girls in school and that women continue to be under-represented in university and professional careers related to STEM disciplines (Science, Technology, Eng...Read more...

CEP discussion paper

Human capital from childhood exposure to homeownership: evidence from Right-to-Buy

"Right to Buy" (RTB) was a large-scale UK housing policy whereby incumbent tenants in public housing could buy their properties at heavily subsidised prices. The policy increased the national homeownership rate by over 1...Read more...

Government consultation

Invest 2035: the UK's modern industrial strategy

This document presents the submission made in response to the consultation on "Invest 2035: the UK's modern industrial strategy." The consultation was conducted by the Department for Business and Trade from 14 October 20...Read more...

Journal article

Economics of Education Review:

Effect of secondary education on cognitive and non-cognitive skills

We examine the effects of secondary education on cognitive and non-cognitive skills using admission cutoffs to general secondary schools. We measure these skills using the Finnish Defence Forces Basic Skills Test, which,...Read more...

Journal article

International Economic Review:

Last but not least: laggard firms, technology diffusion, and its structural and policy determinants

Using a unique microaggregated data set on firm-level productivity in 13 countries from 1995 to 2014, this article provides new evidence on technology- and knowledge-diffusion barriers for laggard firms. We show that, al...Read more...

CEP discussion paper

The role of human capital for AI adoption: evidence from French firms

We leverage a uniquely comprehensive combination of data sources to explore the enabling role of human capital in fostering the adoption of predictive AI systems in French firms. Using a causal estimation approach, we sh...Read more...

Blog

LSE Review:

It's time to debunk the belief that tech natives are more valuable

The generational tech divide is narrowing. Daniel Jolles and Grace Lordan surveyed more than 1,400 UK and US professionals and write that the ability to manage your attention and minimise task-switching is more important...Read more...

CentrePiece article

The unequal health effects of smart tech in the workplace

How does technological progress affect workers' health? Melanie Arntz, Sebastian Findeisen, Stephan Maurer and Oliver Schlenker explore the effects of digitalisation and find evidence of worsening health among manual wor...Read more...

Government consultation

Industry and Regulators Committee

The UK is a service-led economy, with strengths in sectors such as financial and business services, the creative and cultural industries, and life sciences, which together employ 20% of the workforce. To build on these s...Read more...

CEP discussion paper

The new wave? The role of human capital and STEM skills in technology adoption in the UK

Which types of human capital influence the adoption of advanced technologies? We study the skill biased adoption of information and communication technologies (ICT) across two waves in the UK. Specifically, we compare th...Read more...

CEP discussion paper

Capital-skill complementarity in firms and in the aggregate economy

We study capital-skill complementarity in a multi-sector framework featuring firm-specific, multi-factor production functions. We characterize the elasticity of the skill premium to the price of capital equipment in term...Read more...

CEP occasional paper

The apprenticeship guarantee

The UK has a poor record of providing opportunities to learn skills for the around half of young people that do not attend university. Over a third of 18-year-olds in England are not undertaking any education or training...Read more...

CEP discussion paper

Evaluating the impact of export finance support on firm-level export performance: evidence from Pakistan

This paper evaluates the impact of two large export finance support schemes on firm-level export performance. The Export Finance Scheme (EFS) and the Long-Term Finance Facility for Plant & Machinery (LTFF), provide loans...Read more...

CEP discussion paper

Elite universities and the intergenerational transmission of human and social capital

Do elite colleges help talented students join the social elite, or help incumbent elites retain their positions? We combine intergenerationally-linked data from Chile with a regression discontinuity design to show that, ...Read more...

CEP discussion paper

Accounting for the evolution of China's production and trade patterns

This paper studies the evolution of China's production and trade patterns during its integration into the global economy. We document and explain new facts concerning changes in production and exports at the industry and...Read more...

Journal article

The Economic Journal:

Taking back control? Quasi-experimental evidence on the impact of retirement on locus of control

We use Australian panel data to examine the impact of retirement on individual locus of control, a socio-emotional skill with substantial explanatory power for a broad range of life outcomes. Exploiting the eligibility a...Read more...

Journal article

The Journal of Finance:

Tracing the international transmission of a crisis through multinational firms

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported thei...Read more...

CEP discussion paper

Are we yet sick of new technologies? The unequal health effects of digitalization

This study quantifies the relationship between workplace digitalization, i.e., the increasing use of frontier technologies, and workers' health outcomes using novel and representative German linked employer-employee data...Read more...

Journal article

The Review of Economic Studies:

Using disasters to estimate the impact of uncertainty

Uncertainty rises in recessions and falls in booms. But what is the causal relationship? We construct cross-country panel data on stock market returns to proxy for first- and second-moment shocks and instrument these wit...Read more...

Journal article

PLoS ONE :

Access to digital finance: Equity crowdfunding across countries and platforms

Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding ...Read more...

CEP discussion paper

Neoclassical growth in an interdependent world

We generalize the closed-economy neoclassical growth model (CNGM) to allow for costly goods trade and capital flows with imperfect substitutability between countries. We develop a tractable, multi-country, quantitative m...Read more...

CEP report

Cracking the Productivity Code: An international comparison of UK productivity

We examine the growth and level of UK productivity compared to France, Germany and the US. There has been a marked slowdown in labour productivity growth: comparing the dozen years before vs. after the Global Financial C...Read more...

Blog

Project Syndicate:

What to do about Ukraine's brain drain

Russia's invasion of Ukraine in February 2022 fuelled migration on a scale unseen since World War II, leaving 15 per cent of the population residing outside the country to this day. When Ukraine eventually gets the chanc...Read more...

Journal article

American Economic Review :

The impact of regulation on innovation

We present a framework that can be used to assess the equilibrium impact of regulation on endogenous innovation with heterogeneous firms. We implement this model using French firm-level panel data, where there is a sharp...Read more...

External report

Learning to grow: how to situate a skills strategy in an economic strategy

Investing in human capital is a crucial aspect of building an economy that is both more productive and fairer, and any growth strategy must incorporate an agenda for increasing human capital and workforce skills within t...Read more...

External report

Applying the Robbins Principle to further education and apprenticeship

Britain does well at higher education, and badly for its non-graduates. The main problem is our failure to train more people when they are young. Shockingly, 30 per cent of 18 year olds are not in education or training -...Read more...

Journal article

Oxford Economic Papers:

Trends in effort at work in the UK

This article links detailed 24-h diary surveys in the UK for the last four decades, to provide evidence of an increase in work effort in three specific dimensions: timing, nature, and composition. We rule out certain pro...Read more...

CentrePiece article

CEP Insights: Places and...

CEP research on cities and regions examines the drivers of spatial disparities - what leads certain parts of the country to be richer and others poorer? It explores the impact on economic development and policies that ma...Read more...

CentrePiece article

Scars of war

Deaths of soldiers in wartime naturally have a powerful impact on the communities from which they come. Research by Edward Pinchbeck, Felipe Carozzi and Luca Repetto reveals how losses in the first world war have reverbe...Read more...

Journal article

Labour Economics:

Working life and human capital investment: causal evidence from a pension reform

In this paper, we analyze if an increase in the working life leads to more human capital investment via on-the-job training. We obtain RDD-estimates from a sharp date-of-birth cut-off, generated by a pension reform that ...Read more...

Journal article

Journal of Economic Perspectives:

The evolution of work from home

Full days worked at home account for 28 percent of paid workdays among Americans 20?64 years old, as of mid-2023. That's about four times the 2019 rate and ten times the rate in the mid-1990s. We first explain why the bi...Read more...

CEP discussion paper

Scars of war: the legacy of WW1 deaths on civic capital and combat motivation

What drives soldiers to risk their life in combat? We show that the legacy of war creates lasting conditions that encourage younger generations to take greater risks when fighting for their country. Using individual-leve...Read more...

Journal article

The Economic Journal:

Unraveling firms: demand, productivity and markups heterogeneity

We develop a novel framework that simultaneously allows recovering heterogeneity in demand, quantity TFP and markups across firms while leaving the correlation between the three dimensions unrestricted. We accomplish thi...Read more...

Journal article

The Economic Journal:

Individual consequences of occupational decline

We assess the career earnings losses that individual Swedish workers suffered when their occupations' employment declined. High-quality data allow us to overcome sorting into declining occupations on various attributes, ...Read more...

Blog

LSE EUROPP:

What girls study at school affects how healthy their babies will be later in life

Education plays a crucial role in shaping the future of individuals and societies. Pilar Cuevas-Ruiz, Cristina Borra and Almudena Sevilla present findings from research on the long-term health effects of a comprehensive ...Read more...

CEP discussion paper

Imperfect signals

A pre-condition for employer learning is that signals at labor market entry do not fully reveal graduates' productivity. I model various distinct sources of signal imperfection - such as noise and multi-dimensional types...Read more...

Journal article

AEA Papers and Proceedings:

The local labor market effects of modern manufacturing capital: evidence from France

Using an event study methodology and comprehensive micro data from the French manufacturing sector, we analyze the local labor market effects of investments in modern manufacturing capital, including modern automation te...Read more...

CEP discussion paper

The signaling value of legal form in debt financing

We examine if a startup's legal form choice is used as a signal by credit providers to infer its risk to default on a loan. We propose that choosing a legal form with low minimum capital requirements signals higher defau...Read more...

CEP discussion paper

Modern manufacturing capital, labor demand and product market dynamics: evidence from France

We use comprehensive micro data in the French manufacturing sector between 1995 and 2017 to document the effects of a fall in the cost of investments in modern manufacturing capital, including modern automation technolog...Read more...

Blog

LSE Business Review:

Train in vain? Skills, tasks, and training in the UK labour market

Chancellor Jeremy Hunt pledged that measures in the budget would help break down barriers that stop people working. One issue is how to ensure we have the skills the economy needs. Nye Cominetti, Rui Costa, Andrew Eyles,...Read more...

CEP discussion paper

Strapped for cash: the role of financial constraints for innovating firms

This paper makes use of a reform that allowed firms to use patents as stand-alone collateral, to estimate the magnitude of collateral constraints and to quantify the aggregate impact of these constraints on misallocation...Read more...

CentrePiece article

The paradox of vocational education

Despite a UK labour market that is hungry for skills, academic education has triumphed over training, apprenticeships and preparation for specific occupations. Alison Wolf looks at why vocational education continues to l...Read more...

Journal article

European Journal of Social Psychology:

Worldview defence and self-determination theory explain the return of racial voting: evidence from the 2016 US election

We use self-determination (SDT) and worldview defence theories (WDT) to explicate the psychological roots of identitarian voting in recent US, UK and EU elections. We test our theory using the 2016 US election as a case ...Read more...

Journal article

Journal of Health Economics :

Maternal genetic risk for depression and child human capital

We here address the causal relationship between the maternal genetic risk for depression and child human capital using UK birth-cohort data. We find that an increase of one standard deviation (SD) in the maternal polygen...Read more...

Journal article

Science:

Support for climate policy researchers

Read more...

CVER Research Paper

The Recent Evolution of Apprenticeships: participation and pathways

The number of apprenticeship starts in England has reduced dramatically in recent years following government reforms and the COVID-19 pandemic. The composition has also shifted from almost complete domination by low and ...Read more...

CEP discussion paper

Defying distance? The provision of services in the digital age

Digital platforms are transforming services by making the physical distance between provider and user less relevant. I quantify the potential gains this flexibility offers in the context of digital primary care in Sweden...Read more...

External report

Train in vain?

Human capital and skills are important for improving the UK's labour market and economic performance. This note assesses how the skills needed in the UK labour market have changed over past decades, and how well placed o...Read more...

Journal article

Economics of Education Review:

Gender gap variation across assessment types: explanations and implications

Using Swedish population data, we document that girls outperform boys by a third of a standard deviation in school grades, whereas a gap of similar magnitude but opposite sign persists in SAT scores in the sample of non-...Read more...

Journal article

NEJM Catalyst Innovations in Care Delivery:

How health care professionals view their organizations' governance and decision-making

A survey of the NEJM Catalyst Insights Council finds that health care organizations' strategic priorities have held steady - with even more emphasis on financial returns. Now including global data....Read more...

Blog

CVER Blog:

On Track to Success? Returns to Vocational Education against different alternatives

In the wake of Brexit and the global pandemic, skills shortages across the UK economy risk hampering efforts to reverse a decade of languishing productivity and festering inequality. Reinvigorating the long-neglected Bri...Read more...

CEP discussion paper

Can grit be taught? Lessons from a nationwide field experiment with middle-school students

We study whether a particular socio-emotional skill - grit (the ability to sustain effort and interest towards long-term goals) - can be cultivated through a large-scale program, and how this affects student learning. Us...Read more...

Journal article

Journal of Risk and Financial Management:

Pandemic-era uncertainty

We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck...Read more...

Chapter

Returns to vocational education and training

in Handbook of labor, human resources and population economics

What are the consequences of choosing the vocational track over the general or academic track in upper secondary education? This review discusses the evidence for this. It first sets out the arguments for and against voc...Read more...

Journal article

Oxford Economic Papers:

Household inequality and remittances in rural Thailand: a life-cycle perspective

This article studies the dynamics of income inequality among a panel of rural households in Thailand. In contrast to the many cross-section studies of income inequality, the article exploits a long panel data set to exam...Read more...

Journal article

Nature Communications:

The effect of Covid certificates on vaccine uptake, health outcomes, and the economy

In the COVID-19 pandemic many countries required COVID certificates, proving vaccination, recovery, or a recent negative test, to access public and private venues. We estimate their effect on vaccine uptake for France, G...Read more...

Chapter

On the employment consequences of automation and offshoring

in Robots and AI - a new economic era

We argue that automation may make workers and firms more selective in matching their specialized skills and tasks. We call this phenomenon "core-biased technological change", and wonder whether something similar could be...Read more...

CEP Insights

Jobs and wages

Most working-age adults depend on earnings from jobs as their main source of income. Understanding the labour market has always been a central part of research at CEP and its predecessor the Centre for Labour Economics....Read more...

Blog

Economics Observatory:

How would minimum entry grades affect opportunities in higher education?

The UK government is consulting on the introduction of minimum eligibility requirements for access to student loans. Claire Crawford and Gill Wyness argue that if such a reform is introduced, it is likely to prevent many...Read more...

CEP discussion paper

A policy toolkit to increase research and innovation in the European Union

What research and innovation (R&I) policies should Europe adopt? The world faces a challenge to rebuild after the pandemic, but also faces the same structural slowdown of productivity growth that occurred in the decades ...Read more...

Blog

VoxEU:

Inequalities in student to degree match

Researchers find students from lower socioeconomic backgrounds are more likely to be undermatched to their degree courses both academically and in terms of earnings potential. Women are more likely than men to be underma...Read more...

Blog

Economics Observatory:

Firms' digital innovation in the pandemic: how have workers been affected?

Covid-19 has accelerated digitisation in businesses and changes in working practices. Anna Valero, Capucine Riom and Juliana Oliveira-Cunha show how effective training and skills policies will be needed to support conti...Read more...

External report

Spatial disparities across labour markets

Spatial inequalities in the UK are profound and persistent. In 2019, average wages in London were 60% higher than those in Scarborough and Grimsby. Employment rates ranged from 66% in Skegness and Louth to 90% in Harroga...Read more...

Blog

LSE Covid-19:

Why wellbeing should be the goal of policy

Wherever there is a fixed budget constraint, money should be allocated to policies which give the greatest increase in wellbeing per pound of expenditure, argues Richard Layard. Even policy-makers unmoved by wellbeing as...Read more...

Blog

VoxEU:

'Potential capital', working from home, and economic resilience

Janice Eberly, Jonathan Haskel and Paul Mizen estimate the potential capital and labour saved through working from home that would otherwise have been lost during the Covid-19 pandemic....Read more...

Journal article

Economics Letters:

Covid-19 compliance behavior of older people: the role of cognitive and non-cognitive skills

This paper examines the empirical relationship between individuals? cognitive and non-cognitive abilities and COVID-19 compliance behaviors using cross-country data from the Survey of Health, Ageing and Retirement in Eur...Read more...

Blog

VoxEU:

The human side of productivity: uncovering the role of skills and diversity for firm productivity

Rising dispersion in productivity across firms has focused attention on the drivers of superior performances of a minority of firms at the 'productivity frontier' and disappointing performances of the remaining 'producti...Read more...

Journal article

International Journal of Health Planning and Management:

Medical disputes and patient satisfaction in China: how does hospital management matter?

Objective: Satisfaction with healthcare may be captured by surveys of patients and staff, or in extreme cases, the number and severity of medical disputes. This study tries to investigate the relationship between satisfa...Read more...

Blog

LSE British Politics and Policy:

Sink or swim time? Social mobility and the 2021 Budget

Lee Elliot Major assesses the prospects for social mobility and economic recovery in Rishi Sunak's 2021 Budget....Read more...

CEP discussion paper

The demand for executive skills

We use a unique corpus of job descriptions for C-suite positions to document skills requirements in top managerial occupations across a large sample of firms. A novel algorithm maps the text of each executive search into...Read more...

Journal article

Journal of Cross-Cultural Psychology:

Life satisfaction and the Human Development Index across the world

We use annual data on over 150 countries between 2005 and 2018 to look at the relationship between subjective well-being (both cognitive and affective) and the Human Development Index (HDI). The HDI appears to be more cl...Read more...