Testing the tunnel effect: comparison, age and happiness in UK and German panels

IZA Journal of European Labor Studies

Table 24 UK, BHPS, Waves 6–10, 12-18

	(1)	(2)
	Pooled OLS	Fixed effects
Interacted Model, full sample
Household income	0.115***	0.055***
	(15.14)	(6.65)
Household income* 45+	−0.060***	−0.038***
	(−5.23)	(−3.13)
Comparison income	0.114*	0.112
	(1.70)	(1.19)
Comparison income* 25-34	−0.034	0.028
	(−0.53)	(0.36)
Comparison income* 35-44	−0.146**	−0.007
	(−2.20)	(−0.08)
Comparison income* 45-54	−0.036	−0.136
	(−0.43)	(−1.18)
Comparison income* 55-64	−0.234***	−0.230**
	(−2.93)	(−2.00)
Comparison income* 65-74	−0.296***	−0.375***
	(−3.72)	(−3.14)
Comparison income* 75+	−0.152	−0.719***
	(−1.60)	(−5.03)
Observations	153,189	153,189
Number of persons	25,681	25,681
Adj. R-squared	0.170	0.0388

Dependent variable: Life-Satisfaction. In addition to the variables listed in Tables 8 and 9, controls for interactions of all explanatory variables with a dummy for being at least 45 are included. Reference group of age groups: under 25. ***p < 0.01, **p < 0.05, *p < 0.1.