This study focuses on the long term effects of unemployment on subjective wellbeing in a family context for 17-24 year old sons living with at least one parent, using data from the German SOEP. As fathers enter unemployment, sons’ subjective wellbeing is not only reduced immediately, but also...

We estimate hazard rates of retirement entry as a function of the option value of work. The individuals’ expectations about the future economy are incorporated in the option value of work, through which they can impact on the timing of retirement entry. In a scenario where individuals expect a...