Does money affect happiness and self-esteem? The poor borrowers’ perspective in a natural experiment

Becchetti LeonardoCastriota Stefano
CEIS Working Papers
Natural experiments are advocated as one of the best solutions to solve causality dilemmas in the correlation between two variables. Studies on the relation between money and happiness argue that higher income should imply higher life satisfaction levels.
Number: 259
Date: Monday, October 1, 2007
Revision Date: Monday, October 1, 2007