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Algan, Yann, and
Pierre Cahuc. 2009. "Civic Virtue and Labor Market Institutions."
,
1(1): 111-45.
Show Article Details
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)
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Authors:
Algan, Yann (Paris East U)
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
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