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American Economic Journal: Macroeconomics: Vol. 1 No. 1 (January 2009)
AEJ: Macro Volume. 1, Issue 1 | 
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AEJ: Macro Forthcoming Articles
Civic Virtue and Labor Market Institutions
Article Citation
Algan, Yann, and
Pierre Cahuc. 2009. "Civic Virtue and Labor Market Institutions."
American Economic Journal: Macroeconomics,
1(1): 111-45.
DOI: 10.1257/mac.1.1.111
DOI: 10.1257/mac.1.1.111
Abstract
We argue civic virtue plays a key role in explaining the design of public
insurance against unemployment risks by solving moral hazard
issues which hinder the efficiency of unemployment insurance. We
show, in a simple model, that economies with stronger civic virtues
are more prone to provide insurance through unemployment benefits
rather than through job protection. We provide cross-country
empirical evidence of a strong correlation between civic attitudes
and the design of unemployment benefits and employment protection
in OECD countries over the period 1980 to 2003. We then use
an epidemiological approach to estimate the existence of a potential
causal relationship from inherited civic virtue to labor market insurance
institutions. (JEL: J41, J65, J68, Z13)
Article Full-Text Access
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Authors
Algan, Yann (Paris East U)
Cahuc, Pierre (Ecole Polytechnique, Malakoff)
Cahuc, Pierre (Ecole Polytechnique, Malakoff)
JEL Classifications
J41: Labor Contracts
J65: Unemployment Insurance; Severance Pay; Plant Closings
J68: Mobility, Unemployment, and Vacancies: Public Policy
Z13: Economic Sociology; Economic Anthropology
J65: Unemployment Insurance; Severance Pay; Plant Closings
J68: Mobility, Unemployment, and Vacancies: Public Policy
Z13: Economic Sociology; Economic Anthropology
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