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Title:Scarring or scaring?: the psychological impact of past unemployment and future unemployment risk PDF Logo
Authors:Knabe, Andreas
Rätzel, Steffen
Issue Date:2008
Series/Report no.:CESifo working paper 2457
Abstract:We reassess the scarring” hypothesis by Clark et al. (2001), which states that unemployment experienced in the past reduces a person's current life satisfaction even after the person has become reemployed. Our results suggest that the scar from past unemployment operates via worsened expectations of becoming unemployed in the future, and that it is future insecurity that makes people unhappy. Hence, the terminology should be altered by one letter: past unemployment scars” because it scares”.
Subjects:Unemployment
scarring
happiness
life satisfaction
JEL:I31
D10
J60
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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