Social Security,Unemployment, and Growth |
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Authors: | Email author" target="_blank">Michael?Br?uningerEmail author |
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Institution: | (1) HWWA-Hamburgisches Welt-Wirtschafts-Archiv, Hamburg Institute of International Economics, Neuer Jungfernstieg 21, 20347 Hamburg, Germany |
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Abstract: | The paper develops an overlapping generations model that highlights interactions between social security, unemployment and growth. The social security system has two components: old age pensions and unemployment insurance. Pensions have a direct effect on economic growth. Both pensions and unemployment benefits influence equilibrium unemployment caused by wage bargaining. Since unemployment deteriorates growth, both types of social security have an indirect negative effect on growth.JEL Code: E24, H55, J51 |
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Keywords: | unemployment benefits pensions wage bargaining endogenous growth |
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