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KMID : 1124020130290020105
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Korean Social Security Studies
2013 Volume.29 No. 2 p.105 ~ p.134
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The study on the optimum scale of a reserve fund for payment in the industrial accident compensation insurance
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Kim Jin-Soo
Jung Chang-Lyul
Lee Yoon-Jin
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Abstract
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This study aims to examine the appropriate size of reserve funds for the sake of the stable Industrial Accident Compensation Insurance (IACI). The academic approaches to estimate the sound scale of the reserve fund have not been existed although the stipulation of the reserve fund changed recently. This study examined the system of three countries - Germany, Austria, and Switzerland - that have different characteristics in terms of system design of IACI, comparing them by using institutional and quantitative analysis(quantile analysis) in order to examine the appropriateness of the current IACI reserve funds in Korea. The result shows that first, the scale of reserve funds for the IACI in Korea is relatively stable and second, there is virtually no possibility that the difference of revenue and expenditure of the IACI may exceed the reserve funds.
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KEYWORD
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industrial accident compensation insurance, reserve fund, finance, full-funded system, pay-as-you-go financing
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