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OECD Economic Policy Papers

The OECD Economic Policy Papers series is designed to make available selected studies on structural and macro-economic policy issues of current interest. The Papers are produced in the context of the work carried out on the two regular OECD titles, OECD Economic Outlook and Going for Growth.

English

Vulnerability of Social Institutions

Social institutions face many challenges. The recent economic crisis has provided a stress test as it has left a legacy of high unemployment and high government debt in many countries. It also lowered potential output and thus the revenue base for social protection schemes. At the same time, ageing and other secular trends raise long-term sustainability issues. The design of social institutions determines their capacity to deal with shocks and trend changes and the way risks are shared between the institutions and their stakeholders. They also circumscribe the scope for automatic or discretionary adjustments, when trade-offs between sustainability, adequacy and efficiency arise. This report examines the sustainability of social institutions and their ability to absorb and cope with short-term shocks and longer-term trends by providing risk sharing and expenditure smoothing, focusing on pension, health care and unemployment insurance schemes.

English

Keywords: social protection, unemployment insurance, pension scheme, health care
JEL: J26: Labor and Demographic Economics / Demand and Supply of Labor / Retirement; Retirement Policies; J65: Labor and Demographic Economics / Mobility, Unemployment, Vacancies, and Immigrant Workers / Unemployment Insurance; Severance Pay; Plant Closings; I13: Health, Education, and Welfare / Health / Health Insurance, Public and Private; H51: Public Economics / National Government Expenditures and Related Policies / National Government Expenditures and Health; J11: Labor and Demographic Economics / Demographic Economics / Demographic Trends, Macroeconomic Effects, and Forecasts; H53: Public Economics / National Government Expenditures and Related Policies / National Government Expenditures and Welfare Programs; I38: Health, Education, and Welfare / Welfare, Well-Being, and Poverty / Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs; H55: Public Economics / National Government Expenditures and Related Policies / Social Security and Public Pensions
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