Macroeconomic Variables Influencing Life Satisfaction in the Eu, and Its Impact on Emigration

Abstract

Abstract. Purpose of the research is to analyse what variables influence subjective well-being (which is measured as overall life satisfaction in the EU) and how it affects population’s decisions on emigration. Research methodology – a correlation between several independent variables and overall life satisfaction is calculated. Then, a correlation between overall life satisfaction and emigration rates is measured. Finally, regression equations are constructed showing how some variables affect the other. Findings – analysis helped to identify key variables which influenced overall life satisfaction and its impact on population’s decisions on emigration. Those key variables include GDP per capita, income inequality and unemployment. Research limitations – to analyse more social phenomena and not only the economic ones would contribute to research development in the future. Moreover, analysis of dynamic aspects would provide deeper insight of relationships. Practical implications – the analysis of emigration problem and the identification of its possible links with life satisfaction will allow economists to assess a priori potential of various measures suggested in practice and, consequently, will allow for more targeted formulation of the economic policy. Originality/Value – scientific analysis of life satisfaction enables to have a new look on emigration problem in theory and practice.