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Changing identity
Hetschko, Clemens ;  Knabe, Andreas ;  Schöb, Ronnie ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

Main titleChanging identity
Subtitleretiring from unemployment
AuthorHetschko, Clemens
AuthorKnabe, Andreas
AuthorSchöb, Ronnie
InstitutionUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
No. of Pages30 S.
Series Discussion paper / School of Business & Economics ; 2011/11 : Economics
Keywordslife satisfaction, retirement, unemployment, identity, social norm
Classification (DDC)331 Labor economics
AbstractUsing data from the German Socio-Economic Panel from 1984-2009, we follow persons from their working life into their retirement years and find that, on average, employed people maintain their life satisfaction upon retirement, while long-term unemployed people report a substantial increase in their life satisfaction when they retire. These results are robust to controlling for changes in other life circumstances and suggest that retiring is associated with a switch in the relevant social norms that causes an increase in identity utility for the formerly unemployed. This is supportive of the idea that, by including identity in the utility function, results from the empirical life satisfaction literature can be reconciled with the economic theory of individual utility.
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FU DepartmentDepartment Business and Economics
Other affiliation(s)Volkswirtschaftslehre
Year of publication2011
Type of documentBook
LanguageEnglish
Terms of use/Rights Nutzungsbedingungen
Created at2011-07-28 : 02:11:43
Last changed2014-01-23 : 04:20:17
 
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000011188
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