Happy? How the Corona Pandemic affects our life satisfaction [25.08.20]
The Covid-19 pandemic and the resulting lockdown measures affect countless areas of public and private life. Economic costs and financial damage are often mentioned. But how do these affect psychological well-being? And which groups of people bear the psychological costs of the Corona pandemic most severely? Economists at the University of Hohenheim, in collaboration with the Max Planck Institute for Tax Law and Public Finance, are investigating the consequences of the pandemic in terms of individual life satisfaction. For this purpose, data from a representative study from April 2020 were evaluated. The scientists found a decline in general life satisfaction. Especially the life satisfaction of self-employed persons and entrepreneurs suffered significantly from the economic uncertainty.
Picture Credit: https://pixabay.com/de/photos/mann-menschen-dunkel-schatten-2617866/
Publication
Ahlheim, M., Bruckmeyer, S., Konrad, K.A., Windsteiger, L., 2020. Verlorenes Glück — Zufriedenheitsverluste in der Corona-Krise. Wirtschaftsdienst 100, 586–590. doi.org/10.1007/s10273-020-2715-2
Abstract
This study illustrates the loss of life satisfaction, and with it the psychological costs of the COVID-19 pandemic and the lockdown measures taken, for self-employed and women. Building on the data collected by Windsteiger et al. (2020) and their internet interviews at the peak of lockdown measures, and looking at specific population subgroups, this essay illustrates that many solo self-employed and women report a significant decline in life satisfaction, and that these effects are strongest where solo self-employment coincides with economic losses and childcare responsibilities for women with children of dependent age.
More information on Hohenheim research of the Department of Environmental Economics, Regulatory and Consumer Policy, Institute of Economics:
 | Prof. Dr. Michael Ahlheim: Chair of Environmental Economics, Regulatory and Consumer Policy, Institute of Economics
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