Life Satisfaction Differences between Workers and Non-Workers - The Value of Participation per se

Bernard van Praag and Ada Ferrer-i-Carbonell

No 02-018/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: Is working more than monetary income? This paper attempts to give an answer to this question on the basis of the German Socio-economic Panel data set. By comparing the satisfaction with life between workers and non-workers with the same household income, the monetary value of participating in the labour force is assessed. It is found that this monetary value is substantial for many individuals and that it varies strongly with personal characteristics such as age and gender.Women suffer less than men when loosing their job. Individuals about 65 and over do not seem to attach much value to working besides the income it generates.

Keywords: Employment; Satisfaction; Subjective labour costs; Unemployment (search for similar items in EconPapers)
JEL-codes: C23 C25 J20 (search for similar items in EconPapers)
Date: 2002-02-15
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20020018

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