Effects of the Financial and Economic Crisis on Social Security

Abstract

"The world-wide financial and economic crisis keeps economies under pressure. Neither the duration nor the depth of the crisis can yet be predicted unambiguously, and neither, thus, the effects on the system of social security - except if one was satisfied with the prediction that revenues decrease with the increase of expenses. Beyond this evaluation of the financial situation it must be noticed, however, that especially in the three big branches of social security - unemployment insurance, healthcare, and the pension scheme - more or less extensive reforms have been passed that now also have to prove adequate in the crisis. Starting from a description of the economic development and the current and predicted labour market situation, we analyse effects of the current labour market situation on the various branches of social security, the function of which as an automatic stabilizer has thus far been enforced. Finally, we evaluate the development of social security in a long-term perspective." (Author's abstract, IAB-Doku)

Cite article

Sesselmeier, W., Haupt, M., Somaggio, G. & Yollu-Tok, A. (2009): Auswirkungen der Finanz- und Wirtschaftskrise auf die Soziale Sicherung. In: Sozialer Fortschritt, Vol. 58, No. 8, p. 183-188. DOI:10.3790/sfo.58.8.183