1. UNEC Empirical Research Center, Azerbaijan State University of Economics (UNEC), Azerbaijan
2. Department of World Economy, Baku Engineering University, Azerbaijan
Outbreak of novel coronavirus pneumonia (COVID -19) is a big threat to
social and economic life throughout the world. Increasing number of cases
and death as well as social isolation measures against diffusion of the
pandemic are predicted to lower subjective well-being of individuals.
Using survey data (n=2123, Mean_age =34.37, SD_age =11.26) integrated with daily COVID-19 outcomes, the research aims to identify well-being effects
of pandemic among Azerbaijan population while considering moderating
role of age. Empirical findings reveal significant negative well-being
impact for youth which disappears in response to age increase. Meanwhile,
the pandemic could have a larger well-being effect through economic
effects like fall in perceived income adequacy. Public policy makers should
consider direct and indirect well-being effects of COVID-19 over youth and
people with lower perceived income adequacy.