|
on Insurance Economics |
|
Issue of 2006‒01‒01
four papers chosen by Soumitra K Mallick Indian Institute of Social Welfare and Bussiness Management |
| By: | Alvaro Forteza (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República); Anna Caristo (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República); Natalia Ferreira-Coimbra (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República); Ianina Rossi (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República) |
| Abstract: | In this paper we analyze the recent performance, perspectives and some policy options for two public social security programs in Uruguay: pensions and unemployment insurance. We review the impact of these programs on public expenditure, including recent and expected future trends, and on income inequality. Performing microsimulations, we evaluate the fiscal impact, and in some cases the equity impact, of some policy options. |
| Keywords: | Pensions, Unemployment insurance, Inequality |
| JEL: | H55 J14 |
| Date: | 2004–11 |
| URL: | http://d.repec.org/n?u=RePEc:ude:wpaper:0305&r=ias |
| By: | Alberto Martin |
| Abstract: | Dubey and Geanakoplos (2002) have recently developed a theory of competitive pooling, which incorporates adverse selection and signaling into general equilibrium. By recasting the Rothschild-Stiglitz model of insurance in this framework, they find that a separating equilibrium always exists and is unique. We prove that their uniqueness result is not a consequence of the framework, but rather of their definition of refined equilibria. When other types of perturbations are used, the model allows for many pooling allocations to be supported as such: in particular, this is the case for pooling allocations that Pareto dominate the separating equilibrium. |
| Keywords: | Competitive pooling, insurance, adverse selection, signalling, refined equilibrium, separating equilibrium |
| JEL: | D4 D5 D41 D52 D81 D82 |
| Date: | 2003–01 |
| URL: | http://d.repec.org/n?u=RePEc:upf:upfgen:917&r=ias |
| By: | André SCHMITT; Sandrine SPAETER |
| Abstract: | The maritime oil transport is regulated by the 1992 Civil Liability Convention for Oil Damage and the 1992 Oil Pollution Compensation Fund. In this compensation regime, contributions of oil firms are based on the aggregate risk of the Fund and are assessed each time an oil spill is registered. In this paper, we present the main characteristics of such a compensation regime and we explain why oil firms would benefit from a reorga- nization of the financing of the Fund by introducing appropriate hedging mechanisms. As standard insurance is shown to be too limited for the coverage of oil spills, we high- light the arguments that justify the introduction of financial hedging instruments in the management of the compensation system related to oil spills. |
| Keywords: | Oil spill, IOPC Fund, risk management, insurance, financial hedging. |
| JEL: | D80 G22 K32 Q25 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2005-12&r=ias |
| By: | Randall Jones |
| Abstract: | This paper analyses the increasing dualism in the Korean labour market and the need to encourage greater labour force participation. Although the rising proportion of non-regular workers lowers labour costs and increases employment flexibility, it has a negative impact on both equity and efficiency over the long term. Relaxing employment protection for regular workers and increasing the coverage of the social safety net for non-regular workers would help limit the extent of dualism. Population ageing is projected to be exceptionally rapid in Korea, leading to a significant decline in the workforce by mid-century. Steps to boost the participation of women through family-friendly policies are a priority. It is also important to encourage employees to stay at firms beyond the age of 50. Making the wage system more dependent on productivity and less on seniority and implementing a company pension system in place of the retirement allowance would help maintain the employment of older persons. This Working Paper relates to the 2005 OECD Economic Survey of Korea (www.oecd.org/eco/surveys/korea). <P>Le marché du travail en Corée On examinera dans ce papier le marché du travail coréen sous l’angle de son dualisme de plus en plus marqué et de l’augmentation nécessaire des taux d’activité. La proportion croissante de travailleurs non réguliers réduit les coûts de main-d’oeuvre et favorise la flexibilité de l’emploi, mais elle a un impact négatif à long terme sur le plan de l’équité et de l’efficience. On atténuerait le dualisme en assouplissant la protection de l’emploi des travailleurs réguliers et en élargissant la couverture sociale des travailleurs non réguliers. Le vieillissement de la population devant être extrêmement rapide en Corée, la population active diminuera très sensiblement jusqu’au milieu de ce siècle. Il est impérieux d’augmenter le taux d’activité des femmes grâce à des mesures favorables aux familles. Il importe également d’encourager la poursuite de l’activité des salariés au-delà de 50 ans. En faisant en sorte que le système salarial fasse davantage intervenir la productivité au lieu de l’ancienneté et en remplaçant l’indemnité de retraite par un régime de retraite au niveau de l’entreprise, on faciliterait la prolongation de l’activité des personnes âgées. Ce Document de travail se rapporte à l'Étude économique de l'OCDE de la Corée, 2005 (www.oecd.org/eco/etudes/coree). |
| Keywords: | Korea, Corée, labour markets, marché du travail, industrial relations, relation du travail, old workers, unemployment insurance, travailleurs âgés, assurance chômage |
| JEL: | J11 J3 J5 J7 |
| Date: | 2005–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:469-en&r=ias |