Voigt, Stefan; Wagner, Gert G. - In: Zeitschrift für Wirtschaftspolitik 49 (2000) 3, pp. 235-249
Abstract Modifications in pay-as-you-go pension schemes are regularly met with broad public opposition. It is therefore rational for politicians who are interested in reelection to delay necessary reforms as long as possible. Short-termism is the result. Drawing on the concepts of constitutional...