It is shown that the net fiscal externality created by an additional member of a pay-as-you-go pension system that is endowed with individual accounts equals the gross contributions" of this member. In Germany, this is an amount of about DM 175,000. The paper uses this" information to design a...

It is shown that the net fiscal externality created by an additional member of a Pay-as-you-go-pension system that is endowed with individual accounts equals the gross contribution of this member. In Germany, this is an amount of about DM 175,000. The paper uses this information to design a...

It is shown that the net fiscal externality created by an additional member of a Pay-as-you-go-pension system that is endowed with individual accounts equals the gross contributions of this member. In Germany, this is an amount of about DM 175,000. The paper uses this information to design a...

It is shown that the net fiscal externality created by an additional member of a pay-as-you-go pension system that is endowed with individual accounts equals the gross contributions" of this member. In Germany, this is an amount of about DM 175,000. The paper uses this" information to design a...

This study uses data from the Children of the National Longitudinal Survey of Youth to test for evidence of a causal relationship between maternal alcohol use, marijuana use and cocaine use, and children's behavior problems. Ordinary least squares results provide strong evidence that maternal...