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http://hdl.handle.net/10419/51735
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| Title: | | Severance pay programs around the world: History, rationale, status, and reforms  |
| 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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