This paper considers the psychological impact of past unemployment. Using eleven waves of German panel data, we show that life satisfaction is lower not only for the current unemployed (relative to the employed), but also for those with higher levels of past unemployment. However, the negative...

We analyze self-reported measures of satisfaction with life in a transition country, Kyrgyzstan, using 1993 household survey data. We test whether higher levels of satisfaction are associated with greater economic well-being. This hypothesis is strongly supported by the data. Unhappiness is...