Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper tests for the importance of non‐pecuniary costs of unemployment using a longitudinal data‐set on life‐satisfaction of working‐age men in Germany. We show that unemployment has a large detrimental effect on satisfaction after individual specific fixed effects are controlled for. The non‐pecuniary effect is much larger than the effect that stems from the associated loss of income.