BIROn - Birkbeck Institutional Research Online

    Does paying your debt make you happy during the pandemic?

    Mamatzakis, Emmanuel and Ongenab, S. (2024) Does paying your debt make you happy during the pandemic? Working Paper. Birkbeck, University of London, London, UK. (Unpublished)

    This is the latest version of this item.

    [img]
    Preview
    Text
    BVAR Wellbeing BBK Oct24 .pdf - Published Version of Record

    Download (727kB) | Preview

    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)
    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: 06 Nov 2024 14:47
    Last Modified: 06 Nov 2024 15:27
    URI: https://eprints.bbk.ac.uk/id/eprint/54479

    Available Versions of this Item

    Statistics

    Activity Overview
    6 month trend
    9Downloads
    6 month trend
    34Hits

    Additional statistics are available via IRStats2.

    Archive Staff Only (login required)

    Edit/View Item
    Edit/View Item