| Sinn, Hans-Werner (1999): The Crisis of Germany’s Pension Insurance System and How It Can Be Resolved. Discussion Paper / Centre for Economic Policy Research (CEPR), 2175 |
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External fulltext: http://www.cepr.org/pubs/dps/DP2175.asp
Abstract
The paper discusses the options for a reform of the German pension system using a model developed at CES for the German Council of economic advisors to the Federal Ministry of Economics and Research. It is argued that the German pay-as-you-go-system is efficient in a present value sense but will nevertheless need the support of a funded system to avoid a financial crisis. The paper recommends obligatory private savings at a variable rate where the time path of the savings rate is chosen so as to stabilize the sum of this rate and the pay-as-you-go contribution rate, given the time path of pensions as defined in the present system. ; Germany; Pay-As-You-Go System; Pension Insurance; Savings
| Item Type: | Paper (Discussion Paper) |
|---|---|
| Faculties: | Economics Economics > Chairs > Chair for Public Economics |
| Subjects: | 300 Social sciences > 330 Economics |
| Language: | English |
| ID Code: | 19866 |
| Deposited On: | 15. Apr 2014 08:54 |
| Last Modified: | 29. Apr 2016 09:17 |
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