Boon or bane? Others' unemployment,well-being and job insecurity |
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| Authors: | Andrew Clark Andreas Knabe Steffen Rätzel |
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| Institution: | 1. University of Coimbra, Faculty of Psychology and Education, Rua do Colégio Novo, 3000-115 Coimbra, Portugal;2. Friedrich Schiller University of Jena, Department of Developmental Psychology, Am Steiger 3/1, D-07743 Jena, Germany;3. Korea University, Department of Education, 145 Anam-ro, Seongbuk-gu, Seoul, 02841, Republic of Korea;4. Pennsylvania State University, Department of Human Development and Family Studies, 119 Health and Human Development Bldg. University Park, PA 16802, United States;1. Centre for Economic Performance, London School of Economics and Political Science, United Kingdom;2. Melbourne Institute of Applied Economic and Social Research, University of Melbourne, Australia |
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| Abstract: | The social norm of unemployment suggests that aggregate unemployment reduces the well-being of the employed, but has a far smaller effect on the unemployed. We use German panel data to reproduce this standard result, but then suggest that the appropriate distinction may not be between employment and unemployment, but rather between higher and lower levels of labour-market security, at least for men. Men with good job prospects, both employed and unemployed, are strongly negatively affected by regional unemployment. However, insecure employed men and poor-prospect unemployed men are less negatively, or even positively, affected. There is however no clear relationship for women. We analyse labour-market inequality and unemployment hysteresis in the light of our results. |
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