Social security is one of the most significant political‐economic issues in America. It is loaded with controversy and is of deep concern to millions of Americans, both the elderly, who have been receiving benefits since they became payable in the late 1930s, and also younger people, who are...

In 1997, the German government enacted a reform of the unemployment insurance system which lead to a reduction of the maximum entitlement length for unemployment benefits of the older unemployment in the subsequent years. This paper analyses the effects of this reform on the risk of unemployment...