Happiness, Macroeconomics and Age Profile: Insights from Australia

Abstract

This research integrates macroeconomic and micro-level perspectives to provide a deeper understanding of well-being. By combining data from the Labour Dynamics in Australia (HILDA) survey and national statistics from the Australian Bureau of Statistics (ABS), it examines temporal and structural factors shaping happiness. The study also emphasizes the importance of nuanced age modelling in happiness analyses, revealing that preconceived assumptions, like a U-shaped pattern, may fail to capture the complexities of the age-happiness relationship.