Does Paid Sick Leave Induce Welfare Burden?

• 영문명: Does Paid Sick Leave Induce Welfare Burden?
• 발행기관: 한국유통과학회
• 저자명: Namhoon KIM
• 간행물 정보: 『The Asian Journal of Business Environment(AJBE)』vol.14 no.2, 11~18쪽, 전체 8쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2024.03.30

영문 초록

Purpose: The purpose of this study is to empirically evaluate the unintended welfare losses induced by paid sick leave, examine the severity of the unintended moral hazard loss caused by paid sick leave, and evaluate how much moral hazard cost society can accept to obtain paid sick leave benefits. Research Design, Data and Methodology: We examine the Medical Expenditure Panel Survey data collected in 2013 and 2014 by employing a panel probit analysis to control for individual heterogeneity. Results: The estimation result shows that the probability of absence due to paid sick leave increases from 4.91% to 7.84%. Among them, excluding the probability of increasing absence from 1.29% to 2.69% due to the actual disease, the probability of absence due to the moral hazard was estimated to be 2.41% to 6.49% in the proposed models. Based on the result, if we evaluate the increase in absence caused by moral hazard as a social cost, the estimated cost is approximately $174 to $297 per worker per year. Conclusion: Considering these expected costs, our society can obtain the access benefit from paid sick leave if we are willing to accept the moral hazard cost.

목차

1. Introduction

2. Background Information

3. Data and Method

4. Results

5. Discussion

6. Conclusion

References

키워드

Paid Sick Leave Absenteeism Moral Hazard Access Benefit Panel Probit