The link between career risk aversion and unemployment duration: Evidence of nonlinear and time-depending pattern

Dirk Oberschachtsiek and Britta Ullrich
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Dirk Oberschachtsiek: Wissenschaftszentrum Berlin für Sozialforschung and Institute of Economics, Leuphana University of Lüneburg, Germany
Britta Ullrich: Institute of Economics, Leuphana University of Lüneburg, Germany

No 189, Working Paper Series in Economics from University of Lüneburg, Institute of Economics

Abstract: In this study, we investigate the nexus between career risk aversion and unemployment duration based on German survey data (GSOEP). Using a direct measurement of career risk aversion, we do not find a statistically significant linear effect from risk aversion on unemployment duration. However, we find significant effects when controlling for a non-linear or time varying correlation between risk aversion and unemployment duration. Our results show that risk aversion is important when deciding when to leave unemployment. This research takes into account the high complexity involved in how risk aversion enters an individual’s decision process during a job search.

Keywords: unemployment; risk aversion; duration model (search for similar items in EconPapers)
JEL-codes: C41 D81 J24 J64 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2010-10
New Economics Papers: this item is included in nep-lab and nep-upt
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Citations: View citations in EconPapers (4)

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