normal retirement age in Germany did not prolong employment of older men. The reason for this surprising result is that … employers encouraged their employees to use the bridge options unemployment or partial retirement instead of the early … retirement option for the long-term insured. Bridge options allowed employers to terminate employment considerably earlier than …

downgraded employment, and of children to drop-out from education. While effects are stronger among vulnerable households …, coverage of social security does not provide enough support in coping with unemployment shocks. Instead, we find that mothers …

Generous income support programs as provided by European welfare states have often been blamed to hamper employment …