Scarring or Scaring? The Psychological Impact of Past Unemployment and Future Unemployment Risk
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 hasbecome 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”.
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| Date of creation: | 2008 |
| Date of revision: | |
| Handle: | RePEc:ces:ceswps:_2457 |
| Contact details of provider: | Postal: Phone: +49 (89) 9224-0 Fax: +49 (89) 985369 Web page: http://www.cesifo.deEmail: More information through EDIRC
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- Andrew Clark & Yannis Georgellis & Peter Sanfey, 1999.
"Scarring: The Psychological Impact of Past Unemployment,"
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9903, School of Economics, University of Kent.
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080, Institute for Empirical Research in Economics - University of Zurich.
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Journal of Labor Economics,
University of Chicago Press, vol. 21(2), pages 289-322, April.
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