Improving Severance Pay: An International Perspective

Severance pay is the most widely used income protection program for the unemployed worldwide. Improving Severance Pay describes existing severance pay arrangements around the world, summarizes their performance, and discusses recent, innovative severance pay reforms in Austria, Chile, and Korea. The thrust of these reforms is converting severance pay into unemployment cum retirement savings accounts, and this book reviews conceptual and analytical underpinnings of such reforms, and evaluates their likely efficiency and redistributive impact.