Pension benefits labour market institutions and unemployment (Journal article)
As argued by Summers et al. (Quarterly Journal of Economics 1993; 108: 385-411) and Cigno (" Is There a Social Security Tax Wedge?" , CESifo Working Paper No. 1772, 2006) public old-age pension benefits may work as a wage-moderating device, thereby lessening the distorting effects of labour taxation on unemployment. An implication of this argument is that there should be a negative relationship between the generosity of the pension system and the unemployment rate, for those countries where there is a strong link between individual contributions to the pension system and benefits, i.e. countries with Bismarckian pension systems. We test this hypothesis using a panel of 20 OECD countries for the time period of 1960-2004. The paper also provides evidence on the unemployment effects of various labour market institutions.
|Institution and School/Department of submitter:||Πανεπιστήμιο Ιωαννίνων. Σχολή Οικονομικών και Κοινωνικών Επιστημών. Τμήμα Οικονομικών Επιστημών|
|Appears in Collections:||Άρθρα σε επιστημονικά περιοδικά ( Ανοικτά)|
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