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Title:Severance pay programs around the world: History, rationale, status, and reforms PDF Logo
Authors:Holzmann, Robert
Pouget, Yann
Vodopivec, Milan
Weber, Michael
Issue Date:2011
Series/Report no.:Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5731
Abstract:The paper examines severance pay programs around the world by providing the first ever overview of existing programs, examining their historic development, assessing their economic rationale and describing current reform attempts. While a significant part of the paper is devoted to a comprehensive 183 cross country review of existing severance arrangements and their characteristics, the paper goes beyond a mere description. It develops and empirically tests three hypotheses about the economic rationale of the program, namely severance pay being: (i) a primitive income protection program, (ii) an efficiency enhancing human resource instrument, and (iii) a job protection instrument. The paper also reviews the recent reforms of Austria, Chile, Italy and Korea.
Subjects:severance pay
termination benefit
end-of-service benefit
termination benefits
seniority pay
indemnities
leaving allowances
JEL:J33
J65
K31
Persistent Identifier of the first edition:urn:nbn:de:101:1-201106013458
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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