Knabe, Andreas (contributor); Rätzel, Steffen (contributor) - 2008
We reassess the "scarringʺ hypothesis by Clark et al. (2001), which states that unemployment experienced in the past … from past unemployment operates via worsened expectations of becoming unemployed in the future, and that it is future … insecurity that makes people unhappy. Hence, the terminology should be altered by one letter: past unemployment "scarsʺ because …