I Can't Forget about U: Lifetime Unemployment and Retirement Well-Being

Andrew Clark and Anthony Lepinteur

No 17068, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: It is well-known that unemployment leaves scars after re-employment, but does this scarring effect persist even after retirement? We analyse European data on retirees from the SHARE panel, and show that the well-being of the retired continues to reflect the unemployment that they experienced over their working life. These scarring effects are somewhat smaller for older retirees, but larger for those who arguably had higher expectations regarding the labour market when they were active. Despite the substantial variation in culture and labour-market institutions over the 29 countries in our sample, there are no significant country differences. This long-run scarring for those who have left the labour market underlines that contemporaneous correlations significantly under-estimate the well-being cost of unemployment.

Keywords: unemployment; retirement; scarring; CASP; SHARE (search for similar items in EconPapers)
JEL-codes: I31 J21 J63 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2024-06
New Economics Papers: this item is included in nep-age, nep-hap, nep-inv, nep-lab and nep-ltv
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://docs.iza.org/dp17068.pdf (application/pdf)

Related works:
Working Paper: I Can't Forget About U: Lifetime Unemployment and Retirement Well-being (2024)
Working Paper: I Can't Forget About U: Lifetime Unemployment and Retirement Well-being (2024)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp17068

Ordering information: This working paper can be ordered from
IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany

Access Statistics for this paper

More papers in IZA Discussion Papers from Institute of Labor Economics (IZA) IZA, P.O. Box 7240, D-53072 Bonn, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Holger Hinte ().