منابع مشابه
Earnings-related Severance Pay
Lump-sum severance pay from which shirkers can be excluded raises employment in an efficiency wage economy. However, severance payments are usually related to wages. It is shown that earnings-related, mandated severance pay will have ambiguous employment effects if effort can be varied continuously. A substitution of the earnings-related for the lump-sum component reduces employment. Thus, the ...
متن کاملReform of Severance Pay Law in Austria
In 2002, Austria has reformed its severance pay legislation. In the new system (Abfertigung Neu) individual savings accounts are managed by so-called employee provision funds (“Mitarbeitervorsorgekassen”). The system is funded by employers via a monthly untaxed payment of 1.53 % of gross wages. Accumulated entitlements rest in the employee’s account until retirement, unless the work contract ha...
متن کاملOptimal Severance Pay in a Matching Model
This paper constructs an equilibrium matching model with risk-averse workers and incomplete markets that can be used to study both the optimal private provision of severance pay and the allocational and welfare consequences of government intervention mandating payments in excess of the private optimum. A binding mandate decreases equilibrium employment if unemployment benefits are not too respo...
متن کاملMandatory Severance Pay: Its Coverage and Effects in Peru
In Peru, like in many other developing countries, employers have the legal obligation to compensate workers who are dismissed due to no fault of their own. Is this an efficient mechanism to provide income support to the unemployed? This paper seeks an answer to this question using individual records from a household survey with a panel structure. Relying on five coverage indicators, the paper s...
متن کاملContractual Versus Actual Severance Pay Following CEO Departure
Using hand-collected data, we document the details of the ex-ante severance contract and the ex-post separation pay given to S&P500 CEOs upon departing from their company. We analyze for the determinants of whether or not a departing CEO receives separation pay in excess of her severance contract. This excess separation pay is on average, $8 million, which amounts to close to 242% of a CEO’s an...
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 2017
ISSN: 0047-2727
DOI: 10.1016/j.jpubeco.2016.11.003