The Impact Of Household Income On Happiness

This paper first introduces the importance of happiness to family and individual,state and government,and the aging trend of China's population structure.From the perspective of income,this paper discusses the research significance of this paper from macro and micro aspects.After that,the research objectives,research methods and ideas,and the innovations of this paper are briefly introduced.In terms of theoretical review,the author has combined the relevant research to define the definitions of the three important concepts of “elderly”,“resident income and income satisfaction” and “happiness”.In terms of research status,the author classifies domestic and foreign literature according to specific research questions.An overview and a brief review.After that,based on the literature analysis,the research hypothesis of this paper is proposed and a mathematical model is established.The data sources used in this paper are the adult questionnaire,the adult questionnaire,and the public part questionnaire in the 2016 China Family Tracking Questionnaire(CFPS).In the empirical analysis part,this paper mainly solves two problems: what is the relationship between the income of the residents and the happiness of the elderly and what is the mechanism of the income factors affecting the happiness of the elderly.In response to these two problems,the author chooses to establish an ordered logistic regression model and a structural equation model(SEM)for analysis.The main conclusions of this paper are as follows:1.The absolute income level has no significant effect on the happiness of the elderly in China.There is no urban-rural difference,but there are regional differences.Only the absolute income in the western region has a positive impact on happiness.2.The horizontal relative income has a significant role in promoting the happiness of the elderly,and in the rural areas is slightly higher than the city.However,there are regional differences,and the horizontal relative income of the western region has no significant impact on happiness.3.The vertical relative income has no significant effect on the happiness of the elderly.The conclusions of the total sample and the subsample are consistent and there is no urban-rural or regional difference.4.The income satisfaction in the total sample has a significant positive impact on the happiness of the elderly.The impact is not significant in the urban and central subsamples,but significant in the rural and eastern and western subsamples.As a regulatory variable,income satisfaction plays a significant negative adjustment effect on the relationship between horizontal relative income and happiness in the total sample,the rural subsample and the eastern subsample.In the western subsample,income satisfaction is absolute.The relationship between income and well-being has a significant negative adjustment effect;in other cases,the adjustment effect of income satisfaction is not significant.5.The total effect of income factors on happiness is ranked third among the five latent variables,less than the medical situation and child care.6.The path of income factors affecting the happiness of the elderly: “individual characteristics—> income factors—> happiness”,“individual characteristics—> income factors—> child care—> happiness” and “individual characteristics—> insurance— > Income factors-> happiness" three.The direct effect of income factors on happiness is significantly positive,and the indirect effect is significantly negative.At the end of the article,the relevant countermeasures and suggestions and the shortcomings in this study are presented.