Mamatzakis, Emmanuel and Ongenab, S. and Tsionas, M.G. (2022) Does paying your debt make you happy during the pandemic? Working Paper. Birkbeck, University of London, London, UK. (Unpublished)
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Abstract
This paper examines the association between happiness and household debt repayments during the pandemic in UK. We employ a Bayesian VAR with time variation in the conditional mean equations. Our n-dimensional model is treated as a set of n univariate estimation problems, and cross-dependence is handled using a student-t skewed distribution with latent autoregressive factors. The evidence reveals that the pandemic has a detrimental impact on happiness, though increasing household debt repayments can enhance happiness. Remarkably, happiness may help to reduce COVID-19 infections and lockdown measures increase happiness and life satisfaction, though stay-at-home policies would increase anxiety.
Metadata
| Item Type: | Monograph (Working Paper) |
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| Keyword(s) / Subject(s): | Happiness, household debt repayments, COVID-19, Bayesian VAR |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Accounting and Finance Research Centre |
| Depositing User: | Emmanuel Mamatzakis |
| Date Deposited: | 04 Oct 2022 05:16 |
| Last Modified: | 06 Nov 2024 14:45 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/48453 |
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