Robert Holzmann: Severance Pay Programs across the World: History, Rationale, Status, and Reforms
Brown-bag luncheon seminar jointly organised by the European Centre and the Institute for Advanced Studies, Vienna

Friday, 8 April 2011. The seminar starts at 12:30.
Brown-bag lunch starts at 12:00.

Seminar Room at the European Centre for Social Welfare Policy and Research, Berggasse 17, 1090 Vienna

Contact: Bernd Marin or Dr. Ulrich Schuh

Speaker: Prof. Dr. Robert Holzmann (Consultant to the World Bank)

Highlights of the Seminar
The seminar was based on the paper "Severance Pay Programs across the World: History, Rationale, Status, and Reforms" of the World Bank by Robert Holzmann, Yann Pouget, Milan Vodopivec, and Michael Weber

This paper presents the status of severance pay programs around the world through their historic development, economic rationale and current reform attempts. While the better part of the paper is devoted to a comprehensive cross country presentation of existing severance arrangements and their characteristics, this paper goes beyond a mere descriptive approach.
It develops and empirically tests the proposed three main motivations for the existence and effects of severance payments: (i) primitive social benefit, i.e. income protection, (ii) efficiency enhancing human resource instrument, and (iii) an implicit or explicit job protection instrument. The paper also reviews the recent reforms in Austria, Chile, Italy and Korea.

Robert Holzmann CV
pdf, 50 KB, 2011-04-01