Wages and statutory pension claims are connected via the German social insurance system. This dissertation analyzes … unemployment risks on individual wages are analyzed in chapter 2. Building on a portfolio model for the labor market, the effects … compensation has an adverse effect on wages. In West Germany the effect is increasing with the level of qualification. The risk of …

erences in the distribution of income and wages using county-level data from Germany. Chapter 2 analyzes the impact of the so …