For a long time I've noticed that adjusting line-height
and adding some extra space between paragraphs both relative to the chosen font-size
can make a huge impact on the readability of Web site content, but so far I have always selected ad-hoc values for these attributes.
Are there any recommendations in typography, publishing, or psychology literature for how to adjust values for these properties relative to each other?
A deep and mathematical answer to your question can be found at "Secret Symphony: The Ultimate Guide to Readable Web Typography": http://www.pearsonified.com/2011/12/golden-ratio-typography.php
The article takes into account three dimensions: line height, font height adn page width (well, text width) and luckily they also provide a useful calculator: Golden Ratio Typography Calculator (http://www.pearsonified.com/typography/)