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Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked … recovery from the Great Recession. It has disadvantages, as Germany will be ageing very rapidly in the near future. Following a …
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the consequences of individual financial incentive changes caused by a pension reform in Germany on employment …
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We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has...
Persistent link: https://www.econbiz.de/10012009609
The paper describes labor market developments for older workers in Germany in recent years. It provides a a summary of … the main changes in labor market and pension policies in Germany which might have contributed to these developments. The … changes in employment and long-term unemployment, early retirement as well as relative wages by age for Germany in the period …
Persistent link: https://www.econbiz.de/10011807733
The upcoming demographic crisis in Germany demands fundamentalreforms of the pension system. In a democracy, reforms …. After 2023, Germany will be characterizedby a gerontocratic system where the old decide over the young. Only the fearthat …
Persistent link: https://www.econbiz.de/10011400295
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 paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10003936144