Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/180652 
Year of Publication: 
2018
Citation: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 446 [Publisher:] Institute of Labor Economics (IZA) [Place:] Bonn [Year:] 2018
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Job displacement represents a serious earnings risk to long-tenured workers through lower re-employment wages, and these losses may persist for many years. Moreover, this risk is often poorly insured, although not for a lack of policy interest. To reduce this risk, most countries mandate scheduled wage insurance (severance pay), and it is voluntarily provided in others. Actual-loss wage insurance is uncommon, although perceived difficulties may be overplayed. Both approaches offer the hope of greater consumption smoothing, with actual-loss plans carrying greater promise.
Subjects: 
wage insurance
job displacement
severance pay
JEL: 
J65
J63
Persistent Identifier of the first edition: 
Document Type: 
Article

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