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The midlife crisis

Author

Listed:
  • Giuntella, Osea

    (Department of Economics, University of Pittsburgh)

  • McManus, Sally

    (National Centre for Social Research, London)

  • Mujcic, Redzo

    (Warwick Business School, University of Warwick)

  • Oswald, Andrew J

    (Department of Economics, University of Warwick, and CAGE Centre, IZA Institute, Bonn,)

  • Powthavee, Nattavudh

    (Department of Economics, Nanyang Technological University, Singapore & IZA Institute, Bonn)

  • Tohamy, Ahmed

    (Nuffield College, Oxford University)

Abstract

This paper documents a longitudinal crisis of midlife among the inhabitants of rich nations. Yet middle-aged citizens in our data sets are close to their peak earnings, have typically experienced little or no illness, reside in some of the safest countries in the world, and live in the most prosperous era in human history. This is paradoxical and troubling. The finding is consistent, however, with the prediction -- one little-known to economists -- of Elliott Jaques (1965). Our analysis does not rest on elementary cross-sectional analysis. Instead the paper uses panel and through-time data on, in total, approximately 500,000 individuals. It checks that the key results are not due to cohort effects. Nor do we rely on simple life-satisfaction measures. The paper shows that there are approximately quadratic hill-shaped patterns in data on midlife suicide, sleeping problems, alcohol dependence, concentration difficulties, memory problems, intense job strain, disabling headaches, suicidal feelings, and extreme depression. We believe the seriousness of this societal problem has not been grasped by the affluent world’s policy-makers. JEL Codes: I31 ; I14 ; I12

Suggested Citation

  • Giuntella, Osea & McManus, Sally & Mujcic, Redzo & Oswald, Andrew J & Powthavee, Nattavudh & Tohamy, Ahmed, 2022. "The midlife crisis," The Warwick Economics Research Paper Series (TWERPS) 1430, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:1430
    as

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    File URL: https://warwick.ac.uk/fac/soc/economics/research/workingpapers/2022/twerp_1430_-_oswald.pdf
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    Other versions of this item:

    • Osea Giuntella & Sally McManus & Redzo Mujcic & Andrew J. Oswald & Nattavudh Powdthavee & Ahmed Tohamy, 2023. "The Midlife Crisis," Economica, London School of Economics and Political Science, vol. 90(357), pages 65-110, January.
    • Giuntella, Osea & McManus, Sally & Mujcic, Redzo & Oswald, Andrew J & Powthavee, Nattavudh & Tohamy, Ahmed, 2022. "The midlife crisis," CAGE Online Working Paper Series 641, Competitive Advantage in the Global Economy (CAGE).
    • Giuntella, Osea & McManus, Sally & Mujcic, Redzo & Oswald, Andrew J. & Powdthavee, Nattavudh & Tohamy, Ahmed, 2022. "The Midlife Crisis," IZA Discussion Papers 15533, Institute of Labor Economics (IZA).
    • Osea Giuntella & Sally McManus & Redzo Mujcic & Andrew J. Oswald & Nattavudh Powdthavee & Ahmed Tohamy, 2022. "The Midlife Crisis," NBER Working Papers 30442, National Bureau of Economic Research, Inc.

    References listed on IDEAS

    as
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    More about this item

    Keywords

    Mental health ; affluence ; suicide ; depression ; aging ; midlife crisis ; happiness.;
    All these keywords.

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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