Research On The Impact Of Income And Health On Subjective Well-being

With the development of happiness economics,the research on happiness has gradually extended from the field of psychology to the field of economics.The research on people’s well-being has been paid more and more attention.The construction of well-being occupies a very important position in the development of our country.People pay more and more attention to the improvement of personal well-being.The factors affecting well-being have also aroused more and more discussion.Income can meet personal material needs,and happiness can be improved after the needs are met.Therefore,the research on the impact of personal income on happiness has gradually become the focus.Similarly,health can promote people’s allround development and promote the development of economic and social levels,which is also the goal pursued by many people throughout their lives.A good health level is one of the important symbols of national prosperity and national prosperity.The basic premise of happiness is to have a healthy psychological and physiological state,and the impact of health on happiness can not be ignored.Therefore,it is of practical significance to explore the impact of income and health on well-being.Firstly,the concept of well-being is defined.In this paper,well-being refers to subjective well-being.This paper selects the data from the 2018 China family panel studies(CFPS)national survey.The data are all from the results of individual self-administered questionnaires,covering the residents’ questionnaire results from 29 provinces.After screening and processing the data,first,the income is divided into absolute income and relative income,and health is divided into physical health and mental health;Secondly,the method of ordered logit regression is used to study the impact of income and health on subjective well-being,and the robustness test is carried out.When the robustness test is carried out,on the one hand,the variables are replaced,and the subjective well-being of the explained variables is measured by life satisfaction,and the robustness test is carried out.On the other hand,the measurement model is replaced by the method of ordered probit regression to see whether the results are robust;Thirdly,the heterogeneity analysis is carried out from multiple perspectives to explore the relationship among income,health and subjective well-being in different groups based on individual characteristics,regional characteristics and different income levels;Finally,further analysis is made to study the impact of income and health on subjective well-being based on quantile regression method.The main conclusions of this paper are as follows:(1)the improvement of absolute income level will promote the improvement of subjective well-being level,while the improvement of relative income level will also promote the improvement of subjective well-being level.(2)In view of the impact of health on subjective well-being,the main impact on subjective well-being is the personal self-assessment of physical health and mental health.It can promote subjective well-being,and mental health can promote subjective well-being more than physical health.(3)The influence of income and health on subjective well-being is heterogeneous based on individual characteristics,regional characteristics and different income levels.The influence of absolute income level on well-being is different in age,education level,urban and rural areas,Eastern,central and western regions,and income level;The influence of relative income level on happiness is different in gender,age,education level and income level;The influence of health level on well-being is different in education level,Eastern,central and western regions,and income level;The influence of mental health level on well-being is different in education level,urban and rural areas,Eastern,central and western regions,and income level.(4)At different quantiles,income and health have different effects on subjective well-being.The improvement of subjective well-being of people with low level of well-being is more likely to be affected by absolute income and relative income;No matter where the distribution of well-being is,the influence of physical health level on subjective well-being level is similar,but the effect of mental health level on the improvement of subjective wellbeing level is more significant in low well-being groups.