Vulnerability of Social Institutions: Lessons from the Recent Crisis and Historical Episodes
The recent economic crisis has provided a stress test for the vulnerability of social institutions. This paper assesses the vulnerability of social institutions in light of the current crisis, and surveys past episodes, when social institutions faced similar challenges. Public pay-as-you-go pension...
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2014
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1130 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The recent economic crisis has provided a stress test for the vulnerability of social institutions. This paper assesses the vulnerability of social institutions in light of the current crisis, and surveys past episodes, when social institutions faced similar challenges. Public pay-as-you-go pension systems have generally weathered the crisis well, but private pension funds were severely affected by the financial crisis. While health care spending drifted up further in the early part of the crisis, it levelled off in 2010 and 2011, on average in the OECD, for an unprecedented two years with no spending growth. But, in countries hard hit by the crisis public outlays on health care declined considerably. Unemployment insurance expenditure increased during the crisis in most OECD countries. In some countries, spending rose considerably more than the number of unemployed, reflecting an extension or more generous benefits, while in others the increase was considerably smaller, pointing to adequacy problems of those unemployment insurance schemes. Five country case studies focusing on how social institutions absorbed shocks in the more distant past are also examined and lessons are drawn from these experiences. |
| Beschreibung: | 1 Online-Ressource (63 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jz1592t3646-en |
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| 520 | |a The recent economic crisis has provided a stress test for the vulnerability of social institutions. This paper assesses the vulnerability of social institutions in light of the current crisis, and surveys past episodes, when social institutions faced similar challenges. Public pay-as-you-go pension systems have generally weathered the crisis well, but private pension funds were severely affected by the financial crisis. While health care spending drifted up further in the early part of the crisis, it levelled off in 2010 and 2011, on average in the OECD, for an unprecedented two years with no spending growth. But, in countries hard hit by the crisis public outlays on health care declined considerably. Unemployment insurance expenditure increased during the crisis in most OECD countries. In some countries, spending rose considerably more than the number of unemployed, reflecting an extension or more generous benefits, while in others the increase was considerably smaller, pointing to adequacy problems of those unemployment insurance schemes. Five country case studies focusing on how social institutions absorbed shocks in the more distant past are also examined and lessons are drawn from these experiences. | ||
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| spelling | Fall, Falilou VerfasserIn aut Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes Falilou, Fall ... [et al] = La vulnérabilité des institutions sociales : Leçons de la récente crise et d'épisodes historiques / Falilou, Fall ... [et al] La vulnérabilité des institutions sociales Paris OECD Publishing 2014 1 Online-Ressource (63 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1130 The recent economic crisis has provided a stress test for the vulnerability of social institutions. This paper assesses the vulnerability of social institutions in light of the current crisis, and surveys past episodes, when social institutions faced similar challenges. Public pay-as-you-go pension systems have generally weathered the crisis well, but private pension funds were severely affected by the financial crisis. While health care spending drifted up further in the early part of the crisis, it levelled off in 2010 and 2011, on average in the OECD, for an unprecedented two years with no spending growth. But, in countries hard hit by the crisis public outlays on health care declined considerably. Unemployment insurance expenditure increased during the crisis in most OECD countries. In some countries, spending rose considerably more than the number of unemployed, reflecting an extension or more generous benefits, while in others the increase was considerably smaller, pointing to adequacy problems of those unemployment insurance schemes. Five country case studies focusing on how social institutions absorbed shocks in the more distant past are also examined and lessons are drawn from these experiences. Social Issues/Migration/Health Economics Pisu, Mauro MitwirkendeR ctb Pareliussen, Jon MitwirkendeR ctb Bloch, Debra MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jz1592t3646-en Volltext |
| spellingShingle | Fall, Falilou Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes Social Issues/Migration/Health Economics |
| title | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes |
| title_alt | La vulnérabilité des institutions sociales |
| title_auth | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes |
| title_exact_search | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes |
| title_full | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes Falilou, Fall ... [et al] = La vulnérabilité des institutions sociales : Leçons de la récente crise et d'épisodes historiques / Falilou, Fall ... [et al] |
| title_fullStr | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes Falilou, Fall ... [et al] = La vulnérabilité des institutions sociales : Leçons de la récente crise et d'épisodes historiques / Falilou, Fall ... [et al] |
| title_full_unstemmed | Vulnerability of Social Institutions Lessons from the Recent Crisis and Historical Episodes Falilou, Fall ... [et al] = La vulnérabilité des institutions sociales : Leçons de la récente crise et d'épisodes historiques / Falilou, Fall ... [et al] |
| title_short | Vulnerability of Social Institutions |
| title_sort | vulnerability of social institutions lessons from the recent crisis and historical episodes |
| title_sub | Lessons from the Recent Crisis and Historical Episodes |
| topic | Social Issues/Migration/Health Economics |
| topic_facet | Social Issues/Migration/Health Economics |
| url | https://doi.org/10.1787/5jz1592t3646-en |
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