NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Creative Destruction and Subjective Wellbeing

Philippe Aghion, Ufuk Akcigit, Angus Deaton, Alexandra Roulet

NBER Working Paper No. 21069
Issued in April 2015
NBER Program(s):   EFG

In this paper we analyze the relationship between turnover-driven growth and subjective wellbeing, using cross-sectional MSA level US data. We find that the effect of creative destruction on wellbeing is (i) unambiguously positive if we control for MSA-level unemployment, less so if we do not; (ii) more positive on future wellbeing than on current well-being; (iii) more positive in MSAs with faster growing industries or with industries that are less prone to outsourcing; (iv) more positive in MSAs within states with more generous unemployment insurance policies.

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Document Object Identifier (DOI): 10.3386/w21069

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