Börsch-Supan, Axel; Winter, Joachim - Sonderforschungsbereich 504 "Rationalitätskonzepte, …; … - 1999
France, Germany and Italy, to take the three largest economies in continental Europe, have large and ailing pay-as-you-go public pension systems, very thin capital markets, and low capital performance. This paper proposes to study these three issues together, taking Germany as an example....