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The Role of the Social Protection as Economic Stabiliser. Lessons from the Current Crisis

Author

Listed:
  • Werner Eichhorst
  • Mathias Dolls
  • Paul Marx
  • Andreas Peichl

    (Institute for the Study of Labor)

  • Stefan Ederer
  • Thomas Leoni
  • Markus Marterbauer

    (WIFO)

  • Lukas Tockner

    (WIFO)

  • Gaetano Basso

    (Fondazione Rodolfo DeBenedetti)

  • Maarten Gerard
  • Ingrid Vanhoren

    (IDEA Consult)

  • Connie Nielsen

    (NIRAS Consultants A/S)

Abstract

Social protection, in particular unemployment benefits, minimum income support and progressive taxation, have significantly contributed to reducing the depth and the duration of the current recession in EU countries and to stabilising labour markets and consumption. Not only does social protection provide a safety net for those groups which have been hit hardest by the crisis, it has also a stabilising effect on the overall demand for goods and services produced in the economy. Discretionary action in the field of social and labour market policy, pursued in most European economies, included a broad range of measures, such as employment incentives, higher benefits and increased transfers to low-income households. Further action, however, is needed to overcome inequalities in access to social protection faced by non-standard workers, and in designing a suitable exit strategy from discretionary stimulus in order to limit the fiscal constraints generated by anti-crisis policies.

Suggested Citation

  • Werner Eichhorst & Mathias Dolls & Paul Marx & Andreas Peichl & Stefan Ederer & Thomas Leoni & Markus Marterbauer & Lukas Tockner & Gaetano Basso & Maarten Gerard & Ingrid Vanhoren & Connie Nielsen, 2010. "The Role of the Social Protection as Economic Stabiliser. Lessons from the Current Crisis," WIFO Studies, WIFO, number 41362, January.
    • Handle: RePEc:wfo:wstudy:41362
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    References listed on IDEAS

    as
    1. European Commission, 2010. "Taxation trends in the European Union: 2010 edition," Taxation trends 2010, Directorate General Taxation and Customs Union, European Commission.
    2. European Commission, 2013. "Taxation trends in the European Union: 2013 edition," Taxation trends 2013, Directorate General Taxation and Customs Union, European Commission.
    3. Fatas, Antonio & Mihov, Ilian, 2001. "Government size and automatic stabilizers: international and intranational evidence," Journal of International Economics, Elsevier, vol. 55(1), pages 3-28, October.
    4. Coile, Courtney C. & Levine, Phillip B., 2007. "Labor market shocks and retirement: Do government programs matter?," Journal of Public Economics, Elsevier, vol. 91(10), pages 1902-1919, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Rainer Eppel & Ulrike Famira-Mühlberger & Julia Bock-Schappelwein, 2014. "Kennzeichen des österreichischen Arbeitsmarktes im EU-Vergleich," WIFO Monatsberichte (monthly reports), WIFO, vol. 87(11), pages 755-766, November.
    2. Rainer Eppel & Thomas Leoni, 2011. "New Social Risks Affecting Children. A Survey of Risk Determinants and Child Outcomes in the EU," WIFO Working Papers 386, WIFO.
    3. Ulrike Famira-Mühlberger & Thomas Leoni, 2014. "Die wirtschaftliche und soziale Lage in Österreich," WIFO Studies, WIFO, number 47475, January.

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