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

Werner Eichhorst, Mathias Dolls, Paul Marx, Andreas Peichl, Stefan Ederer, Thomas Leoni, Markus Marterbauer, Lukas Tockner, Gaetano Basso, Maarten Gerard, Ingrid Vanhoren and Connie Nielsen
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Lukas Tockner: WIFO
Ingrid Vanhoren: IDEA Consult
Connie Nielsen: NIRAS Consultants A/S

in WIFO Studies from WIFO

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.

Date: 2010
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Working Paper: The Role of Social Protection as an Economic Stabiliser: Lessons from the Current Crisis (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wstudy:41362

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