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The link between career risk aversion and unemployment duration: Evidence of nonlinear and time-depending pattern

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Author Info

  • Dirk Oberschachtsiek

    ()
    (Wissenschaftszentrum Berlin für Sozialforschung and Institute of Economics, Leuphana University of Lüneburg, Germany)

  • Britta Ullrich

    ()
    (Institute of Economics, Leuphana University of Lüneburg, Germany)

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    Abstract

    In this study, we investigate the nexus between career risk aversion and unemployment duration based on German survey data (GSOEP). Using a direct measurement of career risk aversion, we do not find a statistically significant linear effect from risk aversion on unemployment duration. However, we find significant effects when controlling for a non-linear or time varying correlation between risk aversion and unemployment duration. Our results show that risk aversion is important when deciding when to leave unemployment. This research takes into account the high complexity involved in how risk aversion enters an individual’s decision process during a job search.

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    File URL: http://www.leuphana.de/fileadmin/user_upload/Forschungseinrichtungen/ifvwl/WorkingPapers/wp_189_Upload.pdf
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    Bibliographic Info

    Paper provided by University of Lüneburg, Institute of Economics in its series Working Paper Series in Economics with number 189.

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    Length: 38 pages
    Date of creation: Oct 2010
    Date of revision:
    Handle: RePEc:lue:wpaper:189

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    Web page: http://leuphana.de/institute/ivwl.html

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    Keywords: unemployment; risk aversion; duration model;

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    1. Christian Pfeifer, 2011. "Risk Aversion and Sorting into Public Sector Employment," German Economic Review, Verein für Socialpolitik, vol. 12(1), pages 85-99, 02.
    2. Van den Berg, Gerard J., 2000. "Duration Models: Specification, Identification, and Multiple Durations," MPRA Paper 9446, University Library of Munich, Germany.
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