Kifman, Mathias; Schindler, Dirk - In: FinanzArchiv: Public Finance Analysis 57 (2000) 3, pp. 261-261
In this paper, we analyze how the implicit tax rate can be smoothed in a pay-as-you-go system if life expectancy increases or if the rate of population growth declines. We show that generation-specific contribution or replacement rates are necessary to smooth the implicit tax rate. Partial...