1 option
New measures of the costs of unemployment : evidence from the subjective well-being of 2.3 million Americans / John F. Helliwell, Haifang Huang.
- Format:
- Book
- Author/Creator:
- Helliwell, John F., author.
- Huang, Haifang, author.
- Series:
- Working paper series (National Bureau of Economic Research) ; 16829.
- NBER working paper series ; 16829
- Language:
- English
- Subjects (All):
- Unemployment--Psychological aspects.
- Unemployment.
- Physical Description:
- 1 online resource (54 pages) : illustrations.
- Place of Publication:
- Cambridge, Massachusetts : National Bureau of Economic Research, 2011.
- Summary:
- Using two large US surveys, we estimate the effects of unemployment on the subjective well-being of the unemployed and the rest of the population. For the unemployed, the non-pecuniary costs of unemployment are several times as large as those due to lower incomes, while the indirect effect at the population level is fifteen times as large. For those who are still employed, a one percentage point increase in local unemployment has an impact on well-being roughly equivalent to a four percent decline in household income. We also find evidence indicating that job security is an important channel for the indirect effects of unemployment.
- Notes:
- Description based on publisher supplied metadata and other sources.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.