analyze transitions of workers between unemployment, regular employment and employment accompanied by welfare receipt. Working …. Our findings allow us to draw cautious conclusions on employment subsidies paid as welfare benefits. …

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 …