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CentrePiece article
In brief: Business cycle blues
Femke De Keulenaer, Jan-Emmanuel De Neve, Georgios Kavetsos, Michael I. Norton, Bert Van Landeghem and George W. Ward January 2015
Paper No' CEPCP440:
Full Paper (pdf)

CentrePiece 19 (3) Winter 2015

JEL Classification: D03; O11; D69; I39

Tags: economic growth; business cycles; subjective well-being; loss aversion

People do not psychologically benefit from economic expansions nearly as much as they suffer from recessions, according to research by JanEmmanuel De Neve and colleagues.

This article summarises ‘Individual Experience of Positive and Negative Growth is Asymmetric: Evidence from Subjective Wellbeing Data’ by Jan Emmanuel De Neve, George Ward, Femke De Keulenaer, Bert Van Landeghem, Georgios Kavetsos and Michael Norton, CEP Discussion Paper No.1304, October 2014.