Income effects of unemployment and involuntary short-time work are investigated in the context of the East German transformation process from a planned socialistic economy to a market-oriented economy. Theoretical considerations from human capital theory are derived for the income effects in...

This paper provides evidence that subjective measures of individual well being can be used to study the impact of income uncertainty from an ex ante point of view. Two different measures of subjective well being are under study: Satisfaction with household income and the income evaluation...

In this paper a new method to estimate the equivalence scale elasticity using individual panel data on income satisfaction will be developed. In contrast to other subjective approaches, the present one benefits from the fact that no direct cardinal individual welfare function has to be...