Does Happiness Increase in Old Age? Longitudinal Evidence from 20 European Countries [Dataset]

Several studies indicate that happiness follows a U-shape over the life cycle: Happiness decreases after the teenage years until reaching its nadir in middle age. A similar number of studies views the U-shape critically, stating that it is the result of the wrong controls or the wrong model. In this paper, we study the upward-pointing branch of the U-shape, tracing the happiness of European citizens 50 and older over multiple waves. Consistent with a U-shape around middle age, we find that happiness initially increases after the age of 50, but commonly stagnates afterwards and eventually reverts at high age. This pattern is generally observed irrespective of the utilized happiness measure, control variables, estimation methods, and the consideration of selection effects due to mortality. However, the strength of this pattern depends on the utilized happiness measure, control variables, and on mortality effects. The general pattern does not emerge for all countries, and is not always observed for women.