This positive effect can be attributed to political outcomes closer to voters' preferences, as well as to the procedural utility of political participation.
Unemployment has a strongly depressing effect on happiness.
A higher income level raises happiness, however, only to a small extent. Paper provided by Munich - Center for Economic Studies in its series Papers with number 246. 8000 Munich 22, Germany. To our knowledge, this item is not available for download. Check on the provider's web page whether it is in fact available.