Half Title Page -- Title Page -- Copyright -- Contents -- Preface -- Acknowledgments -- Abbreviations -- 1. Severance Pay under Review: Key Issues, Policy Conclusions, and Research Agenda -- Introduction -- Issues with Severance Pay -- Chapter Overview -- Conclusions and Proposed Reform Directions -- Research Agenda: Next Steps -- Notes -- References and Other Resources -- 2. Severance Pay Programs around the World: History, Rationale, Status, and Reforms -- Introduction: Objectives, Methods, and Structure -- The Origins of Severance Pay -- Mandated Severance Pay Programs: Modalities, Overview, Reforms -- The Motivation behind Severance Pay: Reviewing Hypotheses and Evidence -- Conclusions -- Notes -- Annex A. Historic Perspectives across Countries and Regions -- Severance Pay in the United States -- Severance Pay in the United Kingdom -- Severance Pay in Japan -- Origins of Severance Pay in Developing and Transitional Countries -- Annex B. Inventory of Severance Pay across the World -- Annex C. Note on Econometric Estimation -- Why Robust Regression? -- Summary of Critical Aspects -- References and Other Resources -- 3. Mandated Severance Pay and Firing Cost Distortions: A Critical Review of the Evidence -- Introduction -- Severance as Job Displacement Insurance: An Overview -- Severance Policies and Outcomes: Theoretical Structure -- Government Reforms: A Policy Taxonomy -- An Early Cross-National Study: A Bold Empirical Adventure -- Extending the Dismissal Policy Vector: Heckman-Pagés -- Employment Protection Legislation: OECD Studies -- Labor Standards and Their Consequences -- Broad Economic Reforms and Their Consequences -- Employment Protection Legislation and Worker Separations -- EPL: Employment and Its Distribution -- EPL as Workplace Control -- Severance Pay Generosity -- Conclusion -- Notes -- References.

4. The Firing Cost Implications of Alternative Severance Pay Designs -- Introduction -- Job Separation Benefits: Some Definitions -- Severance Insurance and Severance Savings: Consumption-Smoothing and Firing Cost Consequences -- Diversity of Severance Pay Plans in the United States: Firing Cost Implications -- Individual Programs as Elements of a Policy Bundle -- Firing Costs: Some International Evidence -- Conclusion -- Notes -- References -- 5. Effects of the Austrian Severance Pay Reform -- Introduction -- Severance Pay Law in Austria -- Capital Accumulation and the New Severance Pay Scheme -- Mobility in the Labor Market -- Conclusions -- Notes -- References -- 6. Severance Pay Reform in the Republic of Korea -- Introduction -- The Corporate Pension System -- Theoretical Framework -- Policy Implications -- Conclusion -- Annex A -- Notes -- References -- 7. Unemployment Insurance Savings Accounts in Latin America: Overview and Assessment -- Introduction -- Potential Advantages of UISAs -- UISAs in Latin America -- Outcomes of UISAs -- Conclusion -- Notes -- References and Other Resources -- 8. The Welfare Consequences of Alternative Designs of Unemployment Insurance Savings Accounts -- Introduction -- Economic Environment -- The Life-Cycle Model -- Calibration -- Benchmark and Other Mechanisms -- Unemployment Insurance Savings Accounts -- Conclusions -- Annex A -- Notes -- References -- 9. The New Chilean Unemployment Insurance System: Combining Individual Accounts and Redistribution in an Emerging Economy -- Introduction -- Description of the System -- Design Considerations and Reemployment Incentives -- Evaluation -- The 2009 Reform -- Lessons for Other Countries -- Conclusions -- Notes -- References -- 10. Reemployment Incentives under the Chilean Hybrid Unemployment Benefit Program -- The Quest to Reduce Work Disincentives in UI Programs.

Data and Methodology -- Eligibility and Use of the Solidarity Fund -- Empirical Analysis of Job-Finding Rates -- Conclusions -- Notes -- References -- Contributors -- Back Cover.