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Why a Funded Pension System is Useful and Why It is Not Useful

Sinn, Hans-Werner - 2000

Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to funded system even though the latter offers a permanently higher rate of return. The sum of the...

Persistent link: https://www.econbiz.de/10012471177

The Value of Children and Immigrants in a Pay-As-You-Go Pension System : A Proposal for a Partial Transition to a Funded System

Sinn, Hans-Werner - 1997

endowed with individual accounts equals the gross contributions" of this member. In Germany, this is an amount of about DM 175 …

Persistent link: https://www.econbiz.de/10012472582

Germany's Economic Unification : An Assessment after Ten Years

Sinn, Hans-Werner - 2000

A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

Persistent link: https://www.econbiz.de/10012471183

The Crisis of Germany's Pension Insurance System and How It Can Be Resolved

Sinn, Hans-Werner - 1999

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...

Persistent link: https://www.econbiz.de/10012471480

When Will the Germans Get Trapped in their Pension System?

Sinn, Hans-Werner - 2001

The upcoming demographic crisis in Germany demands fundamental reforms of the pension system. In a democracy, reforms … enforced. After 2023, Germany will be characterized by a gerontocratic system where the old decide over the young. Only the …

Persistent link: https://www.econbiz.de/10012470215

International Implications of German Unification

Sinn, Hans-Werner - 1996

This paper advances the hypothesis that the EUS crisis was caused by German unification. The unification has implied a massive resource demand which parallels the US resource demand following Reagan's tax reforms in the eighties. The resource demand revised the German interest rates relative to...

Persistent link: https://www.econbiz.de/10012472989

Macroeconomic Aspects of German Unification

Sinn, Hans-Werner - 1991

The paper comments on the economic effects of the German unification. Apart from discussing the unification in an international perspective, analyzing the distributional consequences, and pointing to structural adjustment problems, it emphasizes the distinction between the frequently cited money...

Persistent link: https://www.econbiz.de/10012475424

Buffering Volatility : A Study on the Limits of Germany’s Energy Revolution

Sinn, Hans-Werner - 2016

Squaring hourly demand and wind-solar production data for Germany and a number of neighbouring countries with the … results of the EU's ESTORAGE project, this paper studies the limits of Germany's energy revolution in view of the volatility …, Norwegian hydro-dam buffering and international diversification via grid expansion. If Germany operated in autarchy and tried to …

Persistent link: https://www.econbiz.de/10012456210

Inflation and Welfare : Comment on Robert Lucas

Sinn, Hans-Werner - 1999

The paper argues that Lucas overestimates the Friedman-Bailey type of welfare cost of inflation and neglects other important welfare effects. With an alternative interpretation of the non-observability of low interest rates than the one Lucas gave and the introduction of taxes that reduce the...

Persistent link: https://www.econbiz.de/10012471828

Public Policies against Global Warming

Sinn, Hans-Werner - 2007

Judged by the principle of intertemporal Pareto optimality, insecure property rights and the greenhouse effect both imply overly rapid extraction of fossil carbon resources. A gradual expansion of demand-reducing public policies -- such as increasing ad-valorem taxes on carbon consumption or...

Persistent link: https://www.econbiz.de/10012465195