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This article sheds light on the important differences in self-declared happiness across countries of equivalent affluence. It hinges on the different happiness statements of natives and immigrants in a set of European countries to disentangle the influence of objective circumstances versus psychological and cultural factors. The latter turns out to be of non- negligible importance in explaining international heterogeneity in happiness. In some countries, such as France, they are mainly responsible for the country’s unobserved idiosyncratic source of (un-)happiness.