Creative Destruction and Subjective Well-Being
Bibliographic Data
| ID | 19035666 |
|---|---|
| Authors | Philippe Aghion (0000-0002-9019-1677, College de France, 3 rue d'Ulm, 75006, Paris, France, London School of Economics, NBER, and CIFAR (e-mail: ), corresponding author), Ufuk Akcigit (0000-0002-8908-7645, University of Chicago, 1126 E. 59th Street, Chicago, IL 60637, and NBER (e-mail: )), Angus Deaton (0000-0002-9222-8023, Princeton University, 361 Wallace Hall, Princeton, NJ 08544, and NBER (e-mail: )), Alexandra Roulet (Harvard University, Littauer Center, 1805 Cambridge Street, Cambridge, MA 02138 (e-mail: )) |
| Year | 2016 |
| Volume | 106 |
| Issue | 12 |
| Pages | 3869-3897 |
| Publication date | 2016-11-30 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | American Economic Review (JOURNAL) |
| Journal identifiers | ISSN: 0002-8282 • E-ISSN: 1944-7981 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/aer.20150338 |
| PMID | 28713168 |
| OpenAlex | W1856570500 |
| Language | EN |
| Citations received | 23 |
| References cited | 15 |
In this paper we analyze the relationship between turnover-driven growth and subjective well-being. Our model of innovation-led growth and unemployment predicts that: (i) the effect of creative destruction on expected individual welfare should be unambiguously positive if we control for unemployment, less so if we do not; (ii) job creation has a positive and job destruction has a negative impact on well-being; (iii) job destruction has a less negative impact in areas with more generous unemployment insurance policies; and (iv) job creation has a more positive effect on individuals that are more forward-looking. The empirical analysis using cross-sectional MSA (metropolitan statistical area)-level and individual-level data provide empirical support to these predictions. (JEL I31, J63, J65, O33, O38)
Creative destruction · Demographic economics · Economics · Job creation · Labour economics · Macroeconomics · Metropolitan area · Unemployment · Welfare · Economic theories and models · Income, Poverty, and Inequality · Psychological Well-being and Life Satisfaction
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| Unique citing works | 23 |
|---|---|
| Citations per year | 2,3 |
| Citation span | 2016 - 2026 (11) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 20 |