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Unemployment Insurance Savings Accounts and Collective Wage Determination

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Author Info
Laszlo Goerke () (University of Tübingen, CESifo and IZA)

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Abstract

Unemployment Insurance Savings Accounts (UISAs) entitle workers to unemployment benefits at the expense of future pension payments. Therefore, such accounts make unemployment less attractive, intensify job search, and raise employment. In the present paper the wage and employment consequences of UISAs are investigated in a model of collective wage determination. In the basic set-up, UISAs induce a trade union to lower wages. This effect can also arise if (1) balanced-budget repercussions are taken into account, (2) individual job search is incorporated, and (3) wage-dependent pensions are allowed for. However, the requirements for negative wage effects to arise become stricter than in the base model. Thus, collective bargaining creates additional impediments for the positive employment consequences of UISAs.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 3141.

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Length: 33 pages
Date of creation: Nov 2007
Date of revision:
Handle: RePEc:iza:izadps:dp3141

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Related research
Keywords: employment; trade union; unemployment accounts; unemployment benefits; wages;

Find related papers by JEL classification:
J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
J65 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment Insurance; Severance Pay; Plant Closings
J68 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Public Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Kugler, Adriana D., 2005. "Wage-shifting effects of severance payments savings accounts in Colombia," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 487-500, February. [Downloadable!] (restricted)
  2. Orszag, Mike & Snower, Dennis J., 1997. "Expanding the Welfare System: A Proposal for Reform," CEPR Discussion Papers 1674, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. Martin Feldstein & Elena Ranguelova, 2001. "Individual Risk in an Investment-Based Social Security System," NBER Working Papers 8074, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Pehkonen, Jaakko, 1990. " Trade Union Objectives and the Cyclical Variability of Wages and Employment," Scandinavian Journal of Economics, Blackwell Publishing, vol. 92(4), pages 573-86.
  5. Raj Chetty, 2006. "A New Method of Estimating Risk Aversion," American Economic Review, American Economic Association, vol. 96(5), pages 1821-1834, December. [Downloadable!]
    Other versions:
  6. Farber, Henry S, 1978. "Individual Preferences and Union Wage Determination: The Case of the United Mine Workers," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 923-42, October. [Downloadable!] (restricted)
  7. Calmfors, L. & Forslund, A., 1989. "Wage Setting In Sweden," Papers 430, Stockholm - International Economic Studies.
  8. Orszag, J. Michael & Snower, Dennis, 2002. "From Unemployment Benefits to Unemployment Accounts," IZA Discussion Papers 532, Institute for the Study of Labor (IZA). [Downloadable!]
  9. Louis Kaplow, 2005. "The Value of a Statistical Life and the Coefficient of Relative Risk Aversion," Journal of Risk and Uncertainty, Springer, vol. 31(1), pages 23-34, July. [Downloadable!] (restricted)
    Other versions:
  10. Folster, Stefan, 1997. "Social Insurance Based on Personal Savings Accounts: A Possible Reform Strategy for Overburdened Welfare States," Kyklos, Blackwell Publishing, vol. 50(2), pages 253-58.
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