How to avoid a pension crisis : a question of intelligent system design

Alessandro Cigno

Conventional pension systems suffer from a design defect, which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The article outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing individuals to qualify for a pension by working and paying contributions in the usual way, and an unconventional one allowing them to qualify for a pension by having children, and investing time and money in their upbringing.

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Year of publication:	2009
Authors:	Cigno, Alessandro
Published in:	CESifo economic studies : CESifo, a joint initiative of the University of Munich's Center for Economic Studies and the Ifo Institute. - Oxford : Oxford Univ. Press, ISSN 1610-241X, ZDB-ID 2098761-4. - Vol. 56.2010, 1, p. 21-37
Subject:	Gesetzliche Rentenversicherung \| Public pension system \| Rentenreform \| Pension reform \| Second Best \| Second best \| Umlageverfahren \| Pay-as-you-go \| Familienleistungsausgleich \| Family benefits \| Arbeitsproduktivität \| Labour productivity \| Fertilität \| Fertility \| Theorie \| Theory \| Deutschland \| Germany

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Extent:	graph. Darst.
Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Source:	ECONIS - Online Catalogue of the ZBW

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