Smoothing the Implicit Tax Rate in a Pay-as-you-go Pension System
AbstractIn this paper, we analyze how the implicit tax rate can be smoothed in a pay-as-you-go system if life expectancy increases or if the rate of population growth declines. We show that generation-specific contribution or replacement rates are necessary to smooth the implicit tax rate. Partial funding of the pension system is indispensable if the rate of population growth falls. If life expectancy increases, the contribution rate fluctuates and may not converge to a new steady state value unless funded elements are introduced.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 57 (2000)
Issue (Month): 3 (May)
Contact details of provider:
Web page: http://www.mohr.de/fa
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kifmann, Mathias & Schindler, Dirk, 2000. "Demographic changes and the implicit tax rate in a pay-as-you-go pension system," Discussion Papers, Series 1 308, University of Konstanz, Department of Economics.
- Friedrich Breyer & Mathias Kifmann, 2003.
"The German Retirement Benefit Formula: Drawbacks and Alternatives,"
Discussion Papers of DIW Berlin
326, DIW Berlin, German Institute for Economic Research.
- Friedrich Breyer & Mathias Kifmann, 2004. "The German Retirement Benefit Formula: Drawbacks and Alternatives," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(1), pages 63-, April.
- Mathias Kifmann, 2001. "Langfristige Folgen einer Einbeziehung der Selbständigen in die gesetzliche Rentenversicherung," Discussion Papers of DIW Berlin 251, DIW Berlin, German Institute for Economic Research.
- Heikki Oksanen, 2001. "Pension Reforms for Sustainability and Fairness," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 2(4), pages 12-18, October.
- Breyer, Friedrich & Kifmann, Mathias, 2002.
"Incentives to retire later a solution to the social security crisis?,"
Journal of Pension Economics and Finance,
Cambridge University Press, vol. 1(02), pages 111-130, July.
- Friedrich Breyer & Mathias Kifmann, 2001. "Incentives to Retire Later: A Solution to the Social Security Crisis?," Discussion Papers of DIW Berlin 266, DIW Berlin, German Institute for Economic Research.
- Friedrich Breyer, 2001. "Why Funding Is not a Solution to the "Social Security Crisis"," Discussion Papers of DIW Berlin 254, DIW Berlin, German Institute for Economic Research.
- Markus Knell, 2005. "On the Design of Sustainable and Fair PAYG Pension Systems When Cohort Sizes Change," Working Papers 95, Oesterreichische Nationalbank (Austrian Central Bank).
- repec:onb:oenbwp:y::i:95:b:1 is not listed on IDEAS
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