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Correlational findings

Study Gehring (2013): study ZZ World samples 1981

Public
18+ aged, 79 countries, 1981-2007
Survey name
INT-WorldValuesSurv 1-5
Sample
Respondents
N = 200000
Non Response
Assessment
Interview: face-to-face

Correlate

Authors's Label
Sound money
Our Classification
Remarks
Part of Economic Freedom Index (Fraser Institute: Gwartney, Hall, & Lawson, 2011).
Distribution
M=7,343  SD=2,518
Related specification variables
Operationalization
A: Money growth
B: Standard deviation of inflation
C: Inflation: most recent year
D: Freedom to own foreign currency bank accounts

Observed Relation with Happiness

Happiness Measure Statistics Elaboration / Remarks O-HL-u-sq-v-4-a r = +.46 AVERAGE happiness by sound money in 79 nations. O-HL-u-sq-v-4-a b = +.02 p < .01 O-SLW-c-sq-n-10-a r = +.47 O-SLW-c-sq-n-10-a b = +.07 p < .01 O-SLW-c-sq-n-10-a b = +.07 p < .01 Age below median in country O-SLW-c-sq-n-10-a b = +.08 p < .01 Age above median in country O-SLW-c-sq-n-10-a b = +.08 p < .01 Females only O-SLW-c-sq-n-10-a b = +.07 p < .01 Males only O-SLW-c-sq-n-10-a b = +.07 p < .01 Lower class only (self rating) O-SLW-c-sq-n-10-a b = +.07 p < .01 Upper and middle class only (self rating) O-SLW-c-sq-n-10-a b = +.07 p < .01 Left wing only (self rating) O-SLW-c-sq-n-10-a b = +.06 p < .05 Right wing only (self rating) O-SLW-c-sq-n-10-a b = +.08 p < .05 Poor nations only (GDP per capita is less than $10,500) (N=58) O-SLW-c-sq-n-10-a b = +.02 Rich nations only (GDP per capita is more than $10,500) (N=49) O-HL-u-sq-v-4-a b = +.02 p < .05 Poor nations only (GDP per capita is less than $10,500) (N=58) O-HL-u-sq-v-4-a b = -.00 Rich nations only (GDP per capita is more than $10,500) (N=49) O-SLW-c-sq-n-10-a r = +.42 % VERY HAPPY (top 3 life satisfaction) by sound money in 79 nations. O-SLW-c-sq-n-10-a b = +.01 p < .10 O-SLW-c-sq-n-10-a b = +.01 Poor nations only (GDP per capita is less than $10,500) (N=58) O-SLW-c-sq-n-10-a b = -.00 Rich nations only (GDP per capita is more than $10,500) (N=49)

b's control for:
- social trust
- belief in God
- investment price level
- log GDP per capita
- government share as a percentage of GDP
- regional dummies
- period dummies

b's are for autoregressive (1) random effects model. Similar coefficients are obtained for  pooled OLS with robust SE, fixed effects model, and random effects model.