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This paper presents an analysis of the behavior of the Swiss labor market, which emphasizes both changes to labor supply and real wage inflexibility as determinants of recent unusually high levels of unemployment. Supply responses in the past meant that measured unemployment rates were rarely high. The paper suggests that these responses also meant that real wages were probably less responsive to shocks as a result. Econometric tests reported in the paper broadly confirm these suggestions, and imply that the level of unemployment consistent with stable inflation has risen in Switzerland.

Labor --- Public Finance --- Unemployment: Models, Duration, Incidence, and Job Search --- Wages, Compensation, and Labor Costs: General --- Demand and Supply of Labor: General --- Unemployment Insurance --- Severance Pay --- Plant Closings --- Labour --- income economics --- Public finance & taxation --- Unemployment --- Real wages --- Labor markets --- Unemployment rate --- Wages --- Unemployment benefits --- Expenditure --- Labor market --- Unemployment insurance --- Switzerland

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This paper reviews the developments in the social safety net system of Albania since the beginning of its economic adjustment program in mid-1992 through the third quarter of 1995. It shows that the social safety net system was quickly reformed, and that this allowed Albanian authorities to support the most needy groups of the population with income transfers. Notwithstanding the low administrative costs, the social safety net system is not financially sustainable. Expenditures are not balanced with revenues, and the gap cannot be closed in the short-run. Poor targeting of the benefits and administrative loopholes spur expenditures. Revenue growth is hindered by low compliance with the social security contributions. The paper concludes with some suggestions for addressing this issues.

Labor --- Macroeconomics --- Public Finance --- Taxation --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Fiscal Policy --- National Government Expenditures and Welfare Programs --- Social Security and Public Pensions --- Personal Income and Other Nonbusiness Taxes and Subsidies --- Unemployment: Models, Duration, Incidence, and Job Search --- Labor Economics: General --- Unemployment Insurance --- Severance Pay --- Plant Closings --- Welfare & benefit systems --- Labour --- income economics --- Pensions --- Public finance & taxation --- Social security contributions --- Pension spending --- Social assistance spending --- Taxes --- Expenditure --- Unemployment benefits --- Social security --- Labor economics --- Expenditures, Public --- Unemployment insurance --- Albania