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Smoothing the Implicit Tax Rate in a Pay-as-you-go Pension System

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  • Mathias Kifman
  • Dirk Schindler

Abstract

In 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 Info

Article provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.

Volume (Year): 57 (2000)
Issue (Month): 3 (May)
Pages: 261-

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Handle: RePEc:mhr:finarc:urn:sici:0015-2218(200105)57:3_261:stitri_2.0.tx_2-b

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  1. Homburg, Stefan & Richter, Wolfram, 1990. "Eine effizienzorientierte Reform der GRV," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 183-191..
  2. 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.
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Citations

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Cited by:
  1. 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).
  2. 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.
  3. 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.
  4. repec:onb:oenbwp:y::i:95:b:1 is not listed on IDEAS
  5. 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.
  6. 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.
  7. 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.

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