The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime …

retirement incentives and work incentives of prime-age workers. We find that postponed retirement tends to harm incentives of …

-skilled workers. The stylized facts are that profits are concentrated among the high-skilled, involuntary unemployment is mostly among … the low-skilled, and private unemployment insurance is missing. This paper analyzes the effectiveness of redistribution … results are: (i) Social insurance props up wages, leading to more outsourcing and unskilled unemployment. (ii) Redistribution …