Unemployment Compensation throughout the World: A Comparative Analysis

By Wayne Vroman; Vera Brusentsev | Go to book overview

For three countries, an analysis of replacement rates suggested that high past inflation did not cause replacement rates to decrease. Effective protection against the effects of inflation was achieved during the periods of highest inflation. However, there was also evidence that replacement rates decreased in Chile during two periods of moderate inflation, the late 1980s and the late 1990s. More evidence needs to be adduced before concluding that South American UC programs have implemented effective ongoing safeguards against inflation.

Chile's new UI program will rely on mainly payments from individual account balances to provide protection against unemployment. The new program will pay much higher benefits than the program being replaced, but potential duration will be much shorter, 5 months versus 12 months. It appears the low recipiency rate of the past decade, roughly 10 percent, will decrease even further under this new program. Further, coverage of the labor force will most likely not change significantly. Thus, the new program will pay higher benefits but to fewer monthly beneficiaries. To provide income support to the unemployed, other programs and measures besides UC will continue to be needed in Chile as they are needed throughout the Latin American and Caribbean region.


Notes
1.
This refers to changes in consumer prices between December 2001 and December 2002.
2.
Venezuela has enacted a UI law, but it has not been implemented. While Barbados also has a UI program, it is not included in the discussion because its population is less than one million.
3.
Classification of Ecuador's system as UC is somewhat arbitrary. It is financed by payroll taxes levied at a 2 percent rate on employers and 1 percent on workers. The benefit formula recognizes the worker's duration of past service and level of monthly earnings. This is separate from a new severance pay system established in 2001.
4.
These averages closely mirror averages for the 1990s (Table 3.3).
5.
The limits are 3 to 5 months in Brazil, 12 months in Chile, and 6 months in Uruguay. In Chile the limit under the new program now being phased in is 5 months.
6.
Coverage is examined in more detail in Chapter 8, with some attention to Chile and Uruguay.
7.
See Mazza (1999, pp. 14 —21). Argentina has recently introduced a cross-match, but its effectiveness is uncertain.

-165-

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Unemployment Compensation throughout the World: A Comparative Analysis
Table of contents

Table of contents

  • Unemployment Compensation Throughout the World - A Comparative Analysis *
  • Contents v
  • Figures vii
  • Tables viii
  • 1 - Introduction 1
  • Notes 6
  • Part 1 - A Global Perspective *
  • 2 - Economic Performance and Unemployment 9
  • Notes 42
  • 3 - Unemployment Protection 45
  • Notes 75
  • Part 2 - Regional Aspects of Unemployment Protection *
  • 4 - Unemployment Compensation in the Oecd-20 Countries 81
  • Notes 106
  • 5 - Unemployment Compensation in the Cee-Fsu Countries 109
  • Notes 125
  • 6 - Unemployment Compensation in East and South Asia 127
  • Notes 143
  • 7 - Unemployment Compensation in Latin American and Caribbean Countries 145
  • Notes 165
  • Part 3 - Problem Areas for Unemployment Compensation Programs *
  • 8 - Three Problem Areas for Unemployment Compensation Programs 169
  • Notes 210
  • 9 - Conclusion 213
  • Appendix A - Labor Market Data for 150 Countries 219
  • Appendix B - Output Changes and Employment Changes 227
  • Notes 232
  • Appendix C - Regression Estimates of Uc Benefit Generosity 233
  • Appendix D - Uc Provisions and Uc Costs in Cee-Fsu Countries 235
  • Appendix E - Determinants of Long-Term Unemployment Percentages 245
  • Notes 252
  • References 253
  • The Authors 259
  • Index 261
  • About the Institute 273
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