distribution. Interestingly, at fund level there is evidence of significant overperformance that survives even after accounting for …

burden stemming from the tax-induced distortion in the allocation of capital across the corporate and the non …-corporate sectors in Germany. In doing so, we perform a counterfactual analysis and ask how the allocation of capital across sectors … would change compared with a sector-neutral tax system which assures an identical effective tax burden on both sectors. Our …

The paper motivates and describes the tax treatment of German retirement benefits and pensions after the 2005 reform … field" among the many instruments generating retirement income in Germany. The paper briefly outlines rational principles … for the taxation of retirement benefits and pensions and compares these with current practice in Germany and abroad. …

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 …

concentration of job exits at specific ages. In Germany, almost 30% of workers retire precisely in the month when they reach one of …

their expected pension payments. Using German tax return data, we exploit an age discontinuity to identify the effect of … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide …