Across the world, there are growing concerns about how to care for an increasingly large elderly population. We explore how elderly welfare facilities influence seniors’ subjective well-being, focusing on the city of Seoul, Korea, using the 2005–2015 Seoul Survey data. Through pooled cross-sectional data analysis with time-specific and location-specific fixed-effects, we estimate the effect of the number of local welfare facilities on elderly subjective well-being. Our results show that elderly welfare facilities have a positive effect on elderly subjective well-being after controlling for endogeneity, but these facilities are more important for the more aged elderly and lower income elderly.
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