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Why a Funded Pension System is Useful and Why it is Not Useful
Sinn, Hans-Werner - 2021
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/10013210645
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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 - 2022
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/10013309212
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The Crisis of Germany's Pension Insurance System and How it Can Be Resolved
Sinn, Hans-Werner - 2021
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/10013310801
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The Pay-as-You-Go Pension System as a Fertility Insurance and Enforcement Device
Sinn, Hans-Werner - 2022
It is argued that a PAYGO system may have useful allocative functions in that it serves as an insurance against not having children and as an enforcement device for rotten kid' who are unwilling to pay their parents a pension. It is true that the system has amoral hazard effect in terms of...
Persistent link: https://www.econbiz.de/10014158127
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Das demographische Defizit - die Fakten, die Folgen, die Ursachen und ihre Politikimplikationen
Sinn, Hans-Werner - In: ifo Schnelldienst 56 (2003) 05, pp. 20-36
Deutschland verwandelt sich aufgrund der geringen Geburtenrate allmählich in eine »Gerontokratie«. Diese Entwicklung … hat fatale Folgen für die Funktionsfähigkeit der staatlichen Sozialsysteme, insbesondere für die Rentenversicherung, denn …
Persistent link: https://www.econbiz.de/10011691990
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Das demographische Defizit - die Fakten, die Folgen, die Ursachen und ihre Politikimplikationen
Sinn, Hans-Werner - In: Ifo Schnelldienst 56 (2003) 05, pp. 20-36
Deutschland verwandelt sich aufgrund der geringen Geburtenrate allmählich in eine »Gerontokratie«. Diese Entwicklung … hat fatale Folgen für die Funktionsfähigkeit der staatlichen Sozialsysteme, insbesondere für die Rentenversicherung, denn …
Persistent link: https://www.econbiz.de/10005055890
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Germany's Economic Unification : An Assessment after Ten Years
Sinn, Hans-Werner - 2011
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/10013132721
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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/10012985948
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International Implications of German Unification
Sinn, Hans-Werner - 2021
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/10013223325
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When Will the Germans Get Trapped in Their Pension System?
Sinn, Hans-Werner; Uebelmesser, Silke - 2021
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/10013236798