"Severance pay, a program that provides compensation to workers on termination of employment, is the most widely used income protection program for the unemployed--yet it is often blamed for creating economic inefficiencies such as reducing employment and limiting access to jobs for...

The previous decade has been one of pension reform throughout the world. In high income countries, the driving force has been the threat that current systems will become unaffordable in coming decades, with demographic developments presenting a major risk. In another setting, countries in the...