Unemployment Insurance or Individual Savings Accounts: Can Chile'S New Scheme Serve as a Model for Other Developing Countries?

Kirsten Sehnbruch

International Social Security Review, 2006, vol. 59, issue 1, 27-48

Abstract: In 2002 the Chilean government implemented new legislation for an unemployment insurance scheme. It has been presented at both national and international levels as a model for other developing countries, because it provides protection against unemployment, avoids issues of moral hazard associated with traditional unemployment insurance systems, and has a relatively low public finance requirement. The insurance combines a system of individual savings accounts with a publicly financed contingency fund. This article examines how it will work in practice, and whether it can indeed serve as a model.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:wly:intssr:v:59:y:2006:i:1:p:27-48

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