policies for the welfare state are analysed: Unemployment accounts, employment subsidies and flexicurity. Finally, a new …

unemployment risks on individual wages are analyzed in chapter 2. Building on a portfolio model for the labor market, the effects … unemployment risk is negative. Chapter 3 focuses on the effects of the reduction of unemployment benefits in the course of the … German Hartz reforms. For men and women in East and West Germany we find that the reform-induced decrease in unemployment …