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The midlife crisis
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Giuntella, Osea, McManus, Sally , Mujcic, Redzo, Oswald, Andrew J. , Powdthavee , Nattavudh and Tohamy, Ahmed (2022) The midlife crisis. Working Paper. Coventry: University of Warwick. Department of Economics. Warwick economics research papers series (WERPS) (1430). (Unpublished)
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Official URL: https://warwick.ac.uk/fac/soc/economics/research/w...
Abstract
This paper documents a longitudinal crisis of midlife among the inhabitants of rich nations. Yet middle-aged citizens in our data sets are close to their peak earnings, have typically experienced little or no illness, reside in some of the safest countries in the world, and live in the most prosperous era in human history. This is paradoxical and troubling. The finding is consistent, however, with the prediction -- one little-known to economists of Elliott Jaques (1965). Our analysis does not rest on elementary cross-sectional analysis. Instead the paper
uses panel and through-time data on, in total, approximately 500,000 individuals. It checks that the key results are not due to cohort effects. Nor do we rely on simple life-satisfaction measures. The paper shows that there are approximately quadratic hill-shaped patterns in data on midlife suicide, sleeping problems, alcohol dependence, concentration difficulties, memory problems, intense job strain, disabling headaches, suicidal feelings, and extreme depression.
We believe the seriousness of this societal problem has not been grasped by the affluent world’s policy-makers.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | B Philosophy. Psychology. Religion > BJ Ethics H Social Sciences > HC Economic History and Conditions R Medicine > RA Public aspects of medicine |
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Divisions: | Faculty of Social Sciences > Economics Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Middle age -- Psychological aspects, Midlife crisis, Medical economics, Middle-aged persons -- Psychology, Poverty -- Economic aspects | ||||
Series Name: | Warwick economics research papers series (WERPS) | ||||
Publisher: | University of Warwick. Department of Economics | ||||
Place of Publication: | Coventry | ||||
ISSN: | 0083-7350 | ||||
Official Date: | 6 October 2022 | ||||
Dates: |
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Number: | 1430 | ||||
Number of Pages: | 72 | ||||
Institution: | University of Warwick | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Description: | This paper also appears as CAGE Discussion paper 641 |
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Date of first compliant deposit: | 19 October 2022 | ||||
Date of first compliant Open Access: | 19 October 2022 |
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