English, Article, Journal or magazine article edition: Boon or Bane? Others' unemployment, well-being and job insecurity Andrew E. Clark; Andreas Knabe; Steffen Rätzel

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Bookmark: http://trove.nla.gov.au/version/44441
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Boon or Bane? Others' Unemployment, Well-being and Job Insecurity
Author
  • Andrew E. Clark
  • Andreas Knabe
  • Steffen Rätzel
Physical Description
  • preprint
Notes
  • RePEc:pse:psecon:2008-67
  • RePEc:diw:diwsop:diw_sp153
  • 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. Those with good job prospects, both employed and unemployed, are strongly negatively affected by regional unemployment. However, the insecure employed and the poor-prospect unemployed are less negatively, or even positively, affected. We use our results to analyse labour-market inequality and unemployment hysteresis.
  • unemployment, externalities, job insecurity, well-being
  • RePEc:ces:ceswps:_2501
Language
  • English
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