Unemployment causes significant losses in the quality of life. In addition to reducing individual income, it also … show that, without this distinction, the non-pecuniary costs of unemployment are overestimated by roughly one …-third. Nevertheless, the non-pecuniary costs of unemployment with this modified quantification method still amount to 2.3 (1.5) times the …

Previous studies find that past unemployment reduces life satisfaction even after reemployment for non-monetary reasons … (unemployment scarring). It is not clear, however, whether this scarring is only caused by employment-related factors, such as …-monetary unemployment scarring for people who were unemployed for the first time in their life directly prior to retirement, but not for …

regional unemployment rates. While employed men suffer from regional unemployment, unemployed men are significantly less … negatively affected. This is consistent with a social-norm effect of unemployment in Germany. We find no evidence of such an …

The social norm of unemployment suggests that aggregate unemployment reduces the wellbeing of the employed, but has a … the appropriate distinction may not be between employment and unemployment, but rather between higher and lower levels of … regional unemployment. However, the insecure employed and the poor-prospect unemployed are less negatively, or even positively …