Volunteering improves subjective well-being, offsetting 20-53pct of W-B losses from unemployment & 16-30pct of W-B losses from long-term health conditions, benefitting the most unhappy; don't last beyond a year

Does Kindness Lead to Happiness? Voluntary Activities and Subjective Well-Being. Elisabetta Magnani, Rong Zhu. Journal of Behavioral and Experimental Economics, https://doi.org/10.1016/j.socec.2018.09.009

Highlights
•    This paper investigates empirically the effects of voluntary activities on subjective well-being;
•    We show that volunteering significantly improves people’s subjective well-being;
•    The positive effects of volunteering are highly heterogeneous along the well-being distribution;
•    We find evidence of complete subjective well-being adaptation one year after volunteering;
•    We explore three channels through which volunteering affects subjective well-being.

Abstract: This paper investigates empirically the effects of voluntary activities on subjective well-being. After controlling for individual fixed effects, we show that volunteering significantly improves people’s subjective well-being. The positive well-being effects of volunteering are highly heterogeneous, with larger impact at the lower end of the distribution of subjective well-being. Our dynamic analysis shows that the beneficial effects of volunteering are transitory. We find evidence of complete subjective well-being adaptation one year after volunteering. We show that more frequent socialisation, increasing satisfaction with feeling part of local community and rising satisfaction with neighbourhood living in are three channels for the contemporaneous positive linkage between volunteering and subjective well-being.