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2020
- handle: 10670/1.ax2lo0
- hal: hal-03455965
- doi: 10.1111/sjoe.12367
- SCIENCESPO: 2441/65dh65gjnn96rqgo52mg09a1uu
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info:eu-repo/semantics/altIdentifier/doi/10.1111/sjoe.12367
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info:eu-repo/semantics/altIdentifier/hdl/2441/65dh65gjnn96rqgo52mg09a1uu
info:eu-repo/semantics/OpenAccess
Mots-clés
Bargaining Severance pay Unemployment insurance Unions E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity J - Labor and Demographic Economics/J.J3 - Wages, Compensation, and Labor Costs/J.J3.J32 - Nonwage Labor Costs and Benefits • Retirement Plans • Private Pensions J - Labor and Demographic Economics/J.J3 - Wages, Compensation, and Labor Costs/J.J3.J33 - Compensation Packages • Payment Methods J - Labor and Demographic Economics/J.J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers/J.J6.J64 - Unemployment: Models, Duration, Incidence, and Job Search J - Labor and Demographic Economics/J.J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers/J.J6.J65 - Unemployment Insurance • Severance Pay • Plant ClosingsSujets proches
Labor and laboring classes Earnings Wage rates Wage-fund Departmental salaries Remuneration Pay Salaries Compensation Working class--WagesCiter ce document
Stéphane Auray et al., « Understanding the Determination of Severance Pay: Mandates, Bargaining, and Unions », Archive ouverte de Sciences Po (SPIRE), ID : 10.1111/sjoe.12367
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Résumé
Asubstantial share of severance payments derives from private contracts or collective agreements. In this paper, we study the determination of these payments. We analyze joint bargaining over wages and severance payments in a search-and-matching model with risk-averse workers. Individual bargaining results in levels of severance pay that provide full insurance, but also depend on unemployment benefits and job-finding rates. Unions also choose full insurance. Because their higher wage demands reduce job creation, this requires higher severance pay. Severance pay observed in eight European countries, to which we calibrate the model, lies between predictions from the bargaining and union scenarios.