{"title":"Severance payments: main effects and determinants on the labour market","authors":"Yannick Gabuthy, Eve-Angéline Lambert","doi":"10.1007/s10657-024-09808-w","DOIUrl":null,"url":null,"abstract":"<p>This article presents a survey of the recent empirical literature analysing both the effects and determinants of severance pay on the labour market. Redundancy payments have an effect notably on the aggregate employment level, workers’ job satisfaction, risk-taking and mobility, the nature of the labour contracts (i.e. open-ended or short-term contracts), and the reasons for dismissal (i.e. economic layoff or redundancy for misconduct), while their main determinants are related to union coverage and membership, the aggregate unemployment rate, fiscal policy, judges’ behaviour and some workers’ individual characteristics (e.g. gender, tenure). Insofar as this literature provides a better understanding of the incentives produced by legal rules related to layoffs, it is clear that its conclusions may have implications for policy-making, which we try to illustrate in this article.</p>","PeriodicalId":51664,"journal":{"name":"European Journal of Law and Economics","volume":null,"pages":null},"PeriodicalIF":1.0000,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Journal of Law and Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1007/s10657-024-09808-w","RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This article presents a survey of the recent empirical literature analysing both the effects and determinants of severance pay on the labour market. Redundancy payments have an effect notably on the aggregate employment level, workers’ job satisfaction, risk-taking and mobility, the nature of the labour contracts (i.e. open-ended or short-term contracts), and the reasons for dismissal (i.e. economic layoff or redundancy for misconduct), while their main determinants are related to union coverage and membership, the aggregate unemployment rate, fiscal policy, judges’ behaviour and some workers’ individual characteristics (e.g. gender, tenure). Insofar as this literature provides a better understanding of the incentives produced by legal rules related to layoffs, it is clear that its conclusions may have implications for policy-making, which we try to illustrate in this article.
期刊介绍：
The European Journal of Law and Economics provides readers with high-quality theoretical and empirical research in which both the legal and economic dimensions merge and combine. The journal welcomes articles that promote a better understanding of legal phenomena, legal decisions made by judges, courts or regulatory agencies, and involving economic tools. Theoretical papers are welcome, provided they have a strong basis in law and economics. We also welcome case studies, as well as empirical analyses – including empirical legal studies – and experimental investigations. The European Journal of Law and Economics does not favor any particular topic, but does have a focus on new and emerging problems. European themes are particularly welcome, because we feel it is important to exploit Europe’s considerable institutional diversity in order to build a more robust body of theory and empirical evidence. However, the purpose of the journal is also to showcase the diversity of law and economics approaches, as supplied by an international mix of authors. Drawing on the support of respected scholars from around the world, who serve as consulting editors and editorial board members, the Editors wish to give contributing authors the opportunity to improve their papers, while also offering them a quick and efficient review process.
Officially cited as: Eur J Law Econ
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