本研究利用臺灣「家庭動態調查」（Panel Study of Family Dynamics, PSFD）2009～2022 年追蹤資料，以追蹤資料觀點分析臺灣民眾主觀幸福感的影響因素，並與國外文獻比較。本文使用順序羅吉斯迴歸、線性迴歸以及固定效果迴歸模型分析，分析顯示：女性、健康狀況良好、已婚或同居者、高教育程度以及高收入者有較高的生活滿意度；幸福感為年齡的U 型曲線，低谷發生於50多歲的中年階段。但在固定效果模型下，幸福感隨年齡增長微幅遞減，並未發現Ｕ型關係，失業對幸福感有明顯衝擊，當個體無經濟壓力時，失業未必與幸福感有關，此與國外研究結果不同。在婚姻與幸福感的關係，進入婚姻關係當年幸福感最高，離婚或喪偶兩年後幸福感回升至事前平均，似乎存在個體適應效果。
除了分析各項因素與臺灣民眾主觀幸福感之關係，本文同時也探討幸福感是否受到樣本流失影響。研究發現幸福感與流失樣本有關，流失與留存樣本間在資料流失首年存在明顯差異，使用聯合模型估計時，樣本流失與主觀幸福感具相關性，惟除了就業與幸福感的相關降低，各變數對幸福感的解釋大致一致，樣本流失對變數解釋的影響可能較為有限。

This study examines the determinants of subjective well-being in Taiwan using longitudinal data from the Panel Study of Family Dynamics (PSFD) spanning 2009 to 2022. Employing ordered logit, linear regression, and fixed-effects models, the analysis investigates life satisfaction from both cross-sectional and panel perspectives and compares the findings with those reported in the international literature.
The results indicate that women, individuals reporting better self-rated health, those who are married or cohabiting, individuals with higher educational attainment, and those with higher income levels report higher life satisfaction. In pooled models, age and well-being display a U-shaped relationship, with the lowest level observed in the early fifties. However, this pattern disappears in the fixed-effects model, where well-being instead shows a slight decline with age. Unemployment exerts a significant negative effect on well-being, although this effect is attenuated among individuals who do not experience economic pressure. Analysis of marital transitions further reveals that life satisfaction peaks in the year of marriage and returns to pre-event levels within two years following divorce or widowhood, indicating the presence of adaptation effects.
This study also examines the role of sample attrition. The results indicate a correlation between subjective well-being and attrition, particularly in the first year, during which noticeable differences emerge between retained and attrited respondents. Findings from joint estimation models further show that, apart from a weakened association between employment status and well-being, the effects of most explanatory variables remain stable, suggesting that sample attrition has a limited impact on the main conclusions.

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