Does paying your debt make you happy during the pandemic?
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 (Unpublished)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: | 02 Aug 2023 18:17 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/48453 |
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