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Scarring or Scaring? The Psychological Impact of Past Unemployment and Future Unemployment Risk


Andreas Knabe


University of Magdeburg - Institute of Economics and Business Administration; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Steffen Rtzel


affiliation not provided to SSRN
March 14, 2011

Economica, Vol. 78, No. 310, pp. 283-293, 2011

Abstract:     
We reassess the scarring hypothesis 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.

Number of Pages in PDF File: 11

Accepted Paper Series


Date posted: March 16, 2011  

Suggested Citation

Knabe, Andreas and Rtzel, Steffen, Scarring or Scaring? The Psychological Impact of Past Unemployment and Future Unemployment Risk (March 14, 2011). Economica, Vol. 78, No. 310, pp. 283-293, 2011. Available at SSRN: http://ssrn.com/abstract=1786230 or http://dx.doi.org/10.1111/j.1468-0335.2009.00816.x

Contact Information

Andreas Knabe (Contact Author)
University of Magdeburg - Institute of Economics and Business Administration ( email )
Universitaetsplatz 2
Magdeburg, 39016
Germany
CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
Poschinger Str. 5
Munich, DE-81679
Germany

Steffen Rtzel
affiliation not provided to SSRN
No Address Available
Feedback to SSRN (Beta)


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References:  4
Citations:  9

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