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Shinya Kotera and Jochen M. Schmittmann

leave for at least 1 month ( Figure 18 , left). 29 Although the duration of leave is similar to previous years (the average is 3.0 months in both 2018 and 2019), there are differences in the distribution of leave length. During the pandemic, more employees were placed on leave for between 2–4 months, while fewer were on 1 month or 7 month plus leave. Figure 18. Duration of leave from work and life satisfaction Forced leave during the pandemic could be associated with dissatisfaction or less happiness which may impact motivation or productivity in the

total factor productivity growth. The correlation becomes even stronger after controlling for income per capita, indicating that there is more to the association than the income factor. In a study conducted on 700 participants in the United Kingdom, Oswald and others (2015) find that happier individuals have approximately 12 percent greater productivity than a control group, with this higher productivity coming from increased efforts by workers. What determines happiness or life satisfaction? Higher income per capita leads to higher happiness, but only up to a

Mr. Benedicte Baduel, Asel Isakova, and Anna Ter-Martirosyan

would gain an additional 514 billion USD per year (in PPP terms), all else being equal. 27 This gain could be as large as 14.5 billion USD in Brazil, 103 billion in China, 18.5 billion USD in Germany, 42.8 billion USD in India, 17.8 billion USD in Russia, and 3.4 billion USD in South Africa. Perceived and actual mobility affects life satisfaction, social cohesion, and policy preferences . Studies suggest that prospects of upward social mobility positively influence people’s life satisfaction and well-being. Perceptions about equality of opportunities can reduce the

Mr. Benedicte Baduel, Asel Isakova, and Anna Ter-Martirosyan
Sharing economic benefits equitably across all segments of society includes addressing the specific challenges of different generations. At present, youth and elderly are particularly vulnerable to poverty relative to adults in their middle years. Broad-based policies should aim to foster youth integration into the labor market and ensure adequate income and health care support for the elderly. Turning to the intergenerational dimension, everyone should have the same chances in life, regardless of their family background. Policies that promote social mobility include improving access to high-quality care and education starting from a very early age, supporting lifelong learning, effective social protection schemes, and investing in infrastructure and other services to reduce spatial segregation.