O objetivo principal deste trabalho é contribuir com a literatura de bem-estar subjetivo ao sugerir a aplicação da metodologia de pseudopainel para as \"happiness equations\", nome pelo qual ficaram conhecidas as equações de bem-estar com variável dependente \"satisfação com a vida\" ou \"felicidade\". Utilizando a base de dados WVS - pesquisa internacional realizada com periodicidade irregular de 1981 a 2008 em mais de 50 países - e seguindo a metodologia sugerida por Deaton (1985), foram rastreadas \"células\" de indivíduos ao longo dos últimos 20 anos para estimação dos determinantes do bem-estar. As células foram formadas pela interação entre geração, gênero e país de nascimento. A grande vantagem do modelo de pseudopainel é que permite controlar para efeitos fixos não-observáveis de células, que são prováveis fontes de viés. Os resultados apontam que os principais determinantes do bem-estar subjetivo individual e intergeracional são: saúde, porque o bem-estar subjetivo tem associação inegável ao bem-estar físico; renda individual ou agregada, porque os bens materiais trazem utilidade, mesmo considerando o efeito adaptação e as crescentes aspirações; emprego, porque além dos ganhos monetários o trabalho também conduz a um maior status social e autoestima; religião, porque a reflexão, a introspecção e a crença em um ser superior confortam em momentos de dificuldade, ajudam a aceitar as adversidades e dão esperança e sentido à vida; senso de liberdade, porque, na maioria das situações, as pessoas preferem ter a sensação de controle sobre suas escolhas e extraem utilidade do processo de decisão. Por fim, tendo em vista a discussão recente na literatura sobre a perda de bem-estar na transição dos países ex-socialistas para o capitalismo, o modelo de pseudopainel foi adaptado para estimar o impacto dessa mudança em diferentes gerações. Os resultados apontam que as gerações mais antigas foram aquelas que mais sofreram perda de bem-estar. O comportamento da satisfação com a vida após os anos 90 nesses países, mesmo considerando diversos outros fatores sócio-econômicos, assumiu um \"formato de V\": repentino declínio com gradual recuperação, que se estende até os dias de hoje. / The main concern of this work is to contribute to the recent discussion of subjective well-being (SWB) by suggesting a pseudopanel approach for the Happiness Equations. Using the WVS database and following the methodology suggested by Deaton (1985), cohorts of individuals were screened over the past 20 years to estimate the determinants of SWB. Cohorts were aggregated as an interaction of generation, gender and country of birth. It is important to point out that the pseudopanel estimation has several advantages, because it makes possible to control for unobservable cohort\'s fixed effects - which are likely sources of bias. Results indicate that the main determinants of SWB are: health, because subjective well-being has undeniable association to physical well-being; individual or aggregated income, because material goods bring utility, even considering the adaption effect and growing aspirations; employment, because beyond monetary gains, work also ensures self-steem and a higher social status; religion, because reflection, introspection and the belief in a Higher Self bring comfort in hard times, help to overcome adversities and bring hope and meaning to life; sense of freedom, because, in most situations, people prefer to have a sense of control over their choices and also extract utility of the decision process. Finally, considering the recent discussion in the literature about the loss of welfare of former socialist nations in transition to capitalism, the pseudopanel model was adapted to estimate the effect of this change in different generations. Results indicate that older generations were the one who suffered the most significant loss in terms of SWB. The behavior of life satisfaction in these countries assumed a V-shaped format: sudden decline with gradual recovey, which extends up until 2008.

O objetivo principal deste trabalho é contribuir com a literatura de bem-estar subjetivo ao sugerir a aplicação da metodologia de pseudopainel para as \"happiness equations\", nome pelo qual ficaram conhecidas as equações de bem-estar com variável dependente \"satisfação com a vida\" ou \"felicidade\". Utilizando a base de dados WVS - pesquisa internacional realizada com periodicidade irregular de 1981 a 2008 em mais de 50 países - e seguindo a metodologia sugerida por Deaton (1985), foram rastreadas \"células\" de indivíduos ao longo dos últimos 20 anos para estimação dos determinantes do bem-estar. As células foram formadas pela interação entre geração, gênero e país de nascimento. A grande vantagem do modelo de pseudopainel é que permite controlar para efeitos fixos não-observáveis de células, que são prováveis fontes de viés. Os resultados apontam que os principais determinantes do bem-estar subjetivo individual e intergeracional são: saúde, porque o bem-estar subjetivo tem associação inegável ao bem-estar físico; renda individual ou agregada, porque os bens materiais trazem utilidade, mesmo considerando o efeito adaptação e as crescentes aspirações; emprego, porque além dos ganhos monetários o trabalho também conduz a um maior status social e autoestima; religião, porque a reflexão, a introspecção e a crença em um ser superior confortam em momentos de dificuldade, ajudam a aceitar as adversidades e dão esperança e sentido à vida; senso de liberdade, porque, na maioria das situações, as pessoas preferem ter a sensação de controle sobre suas escolhas e extraem utilidade do processo de decisão. Por fim, tendo em vista a discussão recente na literatura sobre a perda de bem-estar na transição dos países ex-socialistas para o capitalismo, o modelo de pseudopainel foi adaptado para estimar o impacto dessa mudança em diferentes gerações. Os resultados apontam que as gerações mais antigas foram aquelas que mais sofreram perda de bem-estar. O comportamento da satisfação com a vida após os anos 90 nesses países, mesmo considerando diversos outros fatores sócio-econômicos, assumiu um \"formato de V\": repentino declínio com gradual recuperação, que se estende até os dias de hoje. / The main concern of this work is to contribute to the recent discussion of subjective well-being (SWB) by suggesting a pseudopanel approach for the Happiness Equations. Using the WVS database and following the methodology suggested by Deaton (1985), cohorts of individuals were screened over the past 20 years to estimate the determinants of SWB. Cohorts were aggregated as an interaction of generation, gender and country of birth. It is important to point out that the pseudopanel estimation has several advantages, because it makes possible to control for unobservable cohort\'s fixed effects - which are likely sources of bias. Results indicate that the main determinants of SWB are: health, because subjective well-being has undeniable association to physical well-being; individual or aggregated income, because material goods bring utility, even considering the adaption effect and growing aspirations; employment, because beyond monetary gains, work also ensures self-steem and a higher social status; religion, because reflection, introspection and the belief in a Higher Self bring comfort in hard times, help to overcome adversities and bring hope and meaning to life; sense of freedom, because, in most situations, people prefer to have a sense of control over their choices and also extract utility of the decision process. Finally, considering the recent discussion in the literature about the loss of welfare of former socialist nations in transition to capitalism, the pseudopanel model was adapted to estimate the effect of this change in different generations. Results indicate that older generations were the one who suffered the most significant loss in terms of SWB. The behavior of life satisfaction in these countries assumed a V-shaped format: sudden decline with gradual recovey, which extends up until 2008.

Wellbeing may be the most important feeling able to experience by a person. The research concerning wellbeing has traditionally been focused on psychological wellbeing, yet how wellbeing of populations can be estimated and compared remains unclear. This study proposes a method of measuring wellbeing by keeping to the essence of it as being a subjective feeling. It adopts the rather common term of subjective wellbeing (SWB) and identifies two important aspects of SWB; happiness and life satisfaction. These aspects of life are part of the questionnaires used in many multinational survey studies, including the World Value Survey (WVS). With data from these surveys, SWB can be compared between populations based on subjective survey answers from individuals. The paper tests this approach by using results of the WVS and performing a statistical analysis comparing SWB between cultures. Evaluation of the results leads to the conclusion that, by means of happiness and life satisfaction, a not complete, but at least reasonable operational measurement of SWB is obtained.

This thesis investigates the effect of individual countries' cultural character- istics on macroeconomic stability. Macroeconomic stability is a general con- cept that comprises the stable development of several economic parameters - inflation, government budget, external debt, gross domestic product, and oth- ers. The mainstream economics investigates these indicators usually as being shaped only by wealth, political stability and institutions. However recently, the economic literature reveals the relationship between some of the individ- ual cultural characteristics - mainly trust - and macroeconomic (in)stability. This thesis is the first attempt to analyze the effect of complex set of cultural characteristics on macroeconomic stability. Through the lens of panel data re- gression it is shown that the macroeconomic stability is significantly affected by cultural characteristics. In particular, more individualistic countries tend to have lower macroeconomic stability. Furthermore, in countries where people feel stronger fear about uncertainty the macroeconomic stability is also weaker. On the contrary from the previous studies, the positive effect of higher trust on macroeconomic stability is not confirmed. JEL Classification C33, E03, Z10, Z19 Keywords Macroeconomic stability, Cultural economics,...

CSR, Corporate Social Responsibility, is growingly being adopted in Brazilian companies and other organizations. The literature about the phenomenon suggests that in Brazil, like in many developing countries, the nature of CSR is strongly based on philanthropic culture for historical, political, and social reasons. Another explanation is the weak institutional framework, practically forcing non-governmental actors such as the private sector to take responsibility over social issues. This study aims to explore and analyze the values and culture behind CSR decisions and practices in Brazil. The method used is qualitative, a descriptive content analysis, interpreting the GIFE Census 2014 with Hofstede’s cultural dimensions, and the World Values Survey 2014 of Brazil. The study findings show a strong tradition of collectivism, hierarchies, and power distance, the claimed institutional weakness, but also some cross-sectoral alignment of CSR practices. In CSR decisions, companies and corporate organizations seem economically more effective, but socially less inclusive. Individual and community organizations, and quite extensively also family organizations practice larger stakeholder inclusion, yet are more bureaucratic in their operations. Stakeholder participation could be described partly superficial and quite philanthropic, seen in the nature of social investments and activities. Values and culture can be combined to the decisions and practices of all management formats, but probably for different reasons. International influence is visible through the presence of MNCs, but also as a part of individual and community organizations through stakeholder activism and investments.