How does housing wealth affect happiness?

IF 4.4 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2026-03-01 Epub Date: 2025-11-29 DOI:10.1016/j.ememar.2025.101406

Mingzhi Hu , Yinxin Su

引用次数: 0

Abstract

This study estimates the causal effect of housing wealth appreciation on happiness by exploiting a policy-induced discontinuity in housing value based on house size. Using regression discontinuity analysis of nationally representative household survey data, we find that housing wealth appreciation significantly improves individual happiness. We also find the impact is more pronounced among females, stronger for young households than older ones, and more significant for liquidity-constrained households. These findings highlight housing wealth as a key determinant of happiness, offering important insights for policymakers seeking to improve citizen well-being through housing market policies.

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住房财富如何影响幸福感？

本研究通过利用政策导致的基于房屋大小的住房价值的不连续性来估计住房财富增值对幸福感的因果关系。通过对全国代表性住户调查数据的不连续回归分析，我们发现住房财富增值显著提高了个体幸福感。我们还发现，这种影响在女性中更为明显，在年轻家庭中强于年长家庭，在流动性受限的家庭中更为显著。这些发现强调了住房财富是幸福的关键决定因素，为寻求通过住房市场政策改善公民福祉的政策制定者提供了重要见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.