| Abstract: | We use panel vector autoregressions to analyze the underlying structure of changes in subjective well‐being and its coevolution with changes in income, health, worries, marital status and employment status for the German Socio‐Economic Panel (SOEP) data set. We find that positive changes in the named life domains are followed by decreases in subjective well‐being (except for health, which is followed by well‐being increases). Positive changes in well‐being are followed by positive changes in most life domains. We also examine how the structure of subjective well‐being differs with respect to different Big Five personality traits. |
