Daylight Saving Time (DST) is a widely adopted practice implemented by over 70 countries to align sunlight with day-to-day activities and reduce energy demands. However, we do not have a clear knowledge of how it affects individuals' welfare. Using a regression discontinuity combined with a difference-in-differences design, we find that the Spring DST transition causes a significant decline in life satisfaction. By inducing a reallocation of time, the transition into DST deteriorates sleep quality and increases time stress, which in turn affects physical and emotional health. Using an event study approach, we find that such effects persist for about six days after the DST transition. Conversely, we provide evidence that the Autumn DST transition gives rise to a significant increase in life satisfaction. Finally, using a simple cost-benefit analysis, we discuss the potential benefits of ending DST.

中文翻译：

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时间重新分配的福利效应：来自夏令时的证据

夏令时 (DST) 是 70 多个国家/地区广泛采用的做法，旨在使阳光与日常活动保持一致并减少能源需求。然而，我们并不清楚它如何影响个人的福利。使用断点回归与双重差分设计相结合，我们发现春季 DST 过渡会导致生活满意度显着下降。通过诱导时间重新分配，夏令时的过渡会恶化睡眠质量并增加时间压力，进而影响身体和情绪健康。使用事件研究方法，我们发现这种影响在夏令时转换后持续约六天。相反，我们提供的证据表明，秋季 DST 过渡会显着提高生活满意度。最后，通过简单的成本效益分析，我们讨论了结束夏令时的潜在好处。