Tackling precarious work through financial regulation and private debt relief

Giorgos Gouzoulis, Panagiotis Iliopoulos and Giorgos Galanis

No 724853, Working Papers of LEER - Leuven Economics of Education Research from KU Leuven, Faculty of Economics and Business (FEB), LEER - Leuven Economics of Education Research

Abstract: Our research suggests that personal financial insecurity and the related fear of default make workers more likely to accept working under precarious contracts, rather than negotiating for better working conditions. Using secondary data from the OECD database, we show that household debt and financial investments by pension funds increase involuntary part-time and temporary work in 22 advanced and developing economies since 1990. Therefore, this policy briefing discusses why the regulation of the financial system is an essential step towards a less precarious and more efficient labour market. Below, we offer relevant insights for policymakers and businesses.

Date: 2022-10-01
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