Severance Pay Programs around the World : History, Rationale, Status, and Reforms
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 significa...
| Main Authors: | , , , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/416931468149371414/Severance-pay-programs-around-the-world-history-rationale-status-and-reforms http://hdl.handle.net/10986/27339 |
| Summary: | 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. |
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