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The Midlife Crisis

Author

Listed:
  • Osea Giuntella
  • Sally McManus
  • Redzo Mujcic
  • Andrew J. Oswald
  • Nattavudh Powdthavee
  • Ahmed Tohamy

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.

Suggested Citation

  • Osea Giuntella & Sally McManus & Redzo Mujcic & Andrew J. Oswald & Nattavudh Powdthavee & Ahmed Tohamy, 2022. "The Midlife Crisis," NBER Working Papers 30442, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30442
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    • Osea Giuntella & Sally McManus & Redzo Mujcic & Andrew J. Oswald & Nattavudh Powdthavee & Ahmed Tohamy, 2023. "The Midlife Crisis," Economica, London School of Economics and Political Science, vol. 90(357), pages 65-110, January.

    References listed on IDEAS

    as
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    2. Osea Giuntella & Wei Han & Fabrizio Mazzonna, 2017. "Circadian Rhythms, Sleep, and Cognitive Skills: Evidence From an Unsleeping Giant," Demography, Springer;Population Association of America (PAA), vol. 54(5), pages 1715-1742, October.
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    7. Kunzmann, Ute & Richter, David & Schmukle, Stefan C., 2013. "Stability and Change in Affective Experience Across the Adult Life Span: Analyses With a National Sample From Germany," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 13(6), pages 1086-1095.
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    9. Dolan, Paul & Peasgood, Tessa & White, Mathew, 2008. "Do we really know what makes us happy A review of the economic literature on the factors associated with subjective well-being," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 94-122, February.
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    13. Mujcic, Redzo & Oswald, Andrew J., 2018. "Is Envy Harmful to a Society’s Psychological Health and Wellbeing? A Longitudinal Study of 18,000 Adults," CAGE Online Working Paper Series 361, Competitive Advantage in the Global Economy (CAGE).
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    Cited by:

    1. David G. Blanchflower & Alex Bryson, 2024. "Wellbeing Rankings," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 171(2), pages 513-565, January.

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    More about this item

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I14 - Health, Education, and Welfare - - Health - - - Health and Inequality
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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