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member states are shrinking and getting older. This holds for Sweden and above all for Germany. Due to OECD figures the share … of the ones 65 and over of the total population in West Germany has risen from 10.8% in 1960 to 16.2% in 1997 and it is … 1994 and Germany with its Pansion reform act in 1999 which passed the parliament in 1997. This distinction is important …
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Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothi ng to be gained from a transition to a funded system even though the latter offers a permanently higher rate of return. The sum of...
Persistent link: https://www.econbiz.de/10009781690
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 a funded system even though the latter offers a permanently higher rate of return. The sum of...
Persistent link: https://www.econbiz.de/10013320939
This paper analyses whether the severe demographic change in Germany causes its high current account surpluses. An …
Persistent link: https://www.econbiz.de/10012266985
Based on explicit present value calculations, the paper critizises the view theat den PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to a funded system even though the latter offers a permanently higher rate of return. The sum of...
Persistent link: https://www.econbiz.de/10013361009
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In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...
Persistent link: https://www.econbiz.de/10010341066