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Unemployment Insurance Savings Accounts and Collective Wage Determination

  • Goerke, Laszlo

    ()

    (IAAEU, University of Trier)

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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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:
Publication status: published as: The Effects of Unemployment Insurance Savings Accounts in the Presence of Collective Bargaining Contracts, pp. 199-226, in: Arbeitsverträge – Wirtschaftswissenschaftliches Seminar Ottobeuren, Vol. 37, Eds.: W. Franz, H.-J. Ramser, M. Stadler, Mohr Siebeck: Tübingen, 2008
Handle: RePEc:iza:izadps:dp3141
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  1. Martin Feldstein & Elena Ranguelova, 2001. "Individual Risk in an Investment-Based Social Security System," American Economic Review, American Economic Association, vol. 91(4), pages 1116-1125, September.
  2. Pehkonen, Jaakko, 1990. " Trade Union Objectives and the Cyclical Variability of Wages and Employment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(4), pages 573-86.
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  4. 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.
  5. Feldstein, Martin & Altman, Dan, 2007. "Unemployment Insurance Savings Accounts," Scholarly Articles 2960185, Harvard University Department of Economics.
  6. Ferrer, Ana M. & Riddell, W. Craig, 2009. "Unemployment insurance savings accounts in Latin America : overview and assessment," Social Protection Discussion Papers 49173, The World Bank.
  7. Folster, Stefan, 1997. "Social Insurance Based on Personal Savings Accounts: A Possible Reform Strategy for Overburdened Welfare States," Kyklos, Wiley Blackwell, vol. 50(2), pages 253-58.
  8. Martin Feldstein & Daniel Altman, 2007. "Unemployment Insurance Savings Accounts," NBER Chapters, in: Tax Policy and the Economy, Volume 21, pages 35-64 National Bureau of Economic Research, Inc.
  9. Folster, Stefan, 1999. "Social Insurance Based on Personal Savings," The Economic Record, The Economic Society of Australia, vol. 75(228), pages 5-18, March.
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  14. 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.
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