I think the standard approach here would be a two-way fixed effects models with whatever time-varying covariates you can get access to. It makes strong assumptions though:
The cutting edge here is probably the general cross-lagged panel model, which in the tutorial below could not distinguish the long-run effect of national income on national well-being from zero.
Agreed re: other measures of well-being.
I think the standard approach here would be a two-way fixed effects models with whatever time-varying covariates you can get access to. It makes strong assumptions though:
https://doi.org/10.1017/pan.2020.33
The cutting edge here is probably the general cross-lagged panel model, which in the tutorial below could not distinguish the long-run effect of national income on national well-being from zero.
https://doi.org/10.1177%2F1094428119847278