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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
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Incentive Effects of Social Security Under an Uncertain Disability Option
Boersch-Supan, Axel - 1999
Incentive effects of pension systems are usually estimated under the assumption that the institutional environment provides a single optimal 'pathway' for retirement. However, many countries provide competing pathways which may include several early retirement options in addition to normal...
Persistent link: https://www.econbiz.de/10012471445
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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
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Old Europe ages : Reforms and Reform Backlashes
Boersch-Supan, Axel H. - 2010
This paper focuses on three large Continental European countries: France, Germany, and Italy. These countries have …
Persistent link: https://www.econbiz.de/10012462881
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Political Risk Versus Market Risk in Social Security
Shoven, John B. - 2006
Pay-as-you-go Social Security is typically characterized as a universal defined benefit pension program. Implicit in this characterization is a sense that the participant's investment in future benefits is somehow guaranteed, or safe from risk. This study develops the concept of "political risk"...
Persistent link: https://www.econbiz.de/10012466520
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The German Public Pension System : How it Was, How it Will Be
Boersch-Supan, Axel - 2004
Germany still has a very generous public pay-as-you-go pension system. It is characterized by early effective …
Persistent link: https://www.econbiz.de/10012468168
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Pension Reform in Germany : The Impact on Retirement Decisions
Borsch-Supan, Axel - 2003
The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper focuses in particular on the long-term implications of the...
Persistent link: https://www.econbiz.de/10012468783
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Incentive Effects of Social Security on Labor Force Participation : Evidence in Germany and Across Europe
Borsch-Supan, Axel - 1998
All across Europe, old age labor force participation has declined dramatically during the last decades. This secular trend coincides with population aging. The European social security systems therefore face a double threat: retirees receive pensions for a longer time while there are less...
Persistent link: https://www.econbiz.de/10012472033
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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
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Social Security and Retirement in Germany
Borsch-Supan, Axel - 1997
behavior of older persons in Germany during the last 35 years and surveys the empirical literature on the effects of the social … security system on retirement in Germany. The paper shows that even after the 1992 reform the German system is actuarially …. Indeed, average retirement age is very low in West Germany (about age 59) and even lower in East Germany. This tendency …
Persistent link: https://www.econbiz.de/10012472661