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Qualitative und quantitative Aspekte einer Elternrente?

In: List Forum Band 31

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  • Michael Voigtländer

Abstract

On efficiency grounds, a social contract can be justified if not only a person payments but also the funding of education is taken into account. By introducing a pay-as-you system, which is type of implicit social contract, each young generation can overcome its liquidity problems with regard to the finacing of education and each older generation gains an attractive investment opportunity as funding human capital offers higer returns and allows for an additional diversification of risks. As the marginal returns of education are decreasing, however, pension entitlements should be made contingent on educational investments and on the number of children. Given the tax-financed provision of education in Germany, especially the introduction of child pensions promises efficiency gains for the statutory pension system. Additionally, it is shown how children pensions can be quantified. With reference to the concept of fiscal returns to education a relationship between child-rearing, education and income can be established. As the calculations suggest, one third of all pension entitlements in the German statutory pension scheme should be granted to the number of children. Finally, the article shows how the institutional setting of the German pension system has to be changed in order to implement a child pension.(Original text only available in german language)

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This chapter was published in:

  • List Gesellschaft e.V., 2005. "List Forum Band 31," List Forum, List Gesellschaft e.V., edition 1, volume 1, number 31 edited by List Gesellschaft e.V., December.
    This item is provided by List Gesellschaft e.V. in its series List Forum Chapter with number 31-13.

    Handle: RePEc:lst:lfchap:31-13

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    Keywords: Child Pensions;

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    References

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    1. Ab O, G. & Mahieu, G. & Patxot, C., 2004. "On the optimality of PAYG pension systems in an endogenous fertility setting," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(01), pages 35-62, March.
    2. Psacharopoulos, George & Patrinos, Harry Anthony, 2002. "Returns to investment in education : a further update," Policy Research Working Paper Series 2881, The World Bank.
    3. Michael Voigtländer, 2004. "A Perfect Marriage: Child-related Pensions and Public Education," Otto-Wolff-Institut Discussion Paper Series 02/2004, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
    4. Bental, Benjamin, 1989. "The Old Age Security Hypothesis and Optimal Population Growth," Journal of Population Economics, Springer, vol. 1(4), pages 285-301.
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    8. Zvi Bodie & John B. Shoven, 1983. "Financial Aspects of the United States Pension System," NBER Books, National Bureau of Economic Research, Inc, number bodi83-1, May.
    9. Cigno, Alessandro & Rosati, Furio C., 1996. "Jointly determined saving and fertility behaviour: Theory, and estimates for Germany, Italy, UK and USA," European Economic Review, Elsevier, vol. 40(8), pages 1561-1589, November.
    10. Lauer, Charlotte & Steiner, Viktor, 2000. "Returns to education in West Germany: an empirical assessment," ZEW Discussion Papers 00-04, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    11. Sveinbjörn Blöndal & Simon Field & Nathalie Girouard, 2002. "Investment in Human Capital Through Post-Compulsory Education and Training: Selected Efficiency and Equity Aspects," OECD Economics Department Working Papers 333, OECD Publishing.
    12. Sinn, Hans-Werner, 1997. "The Value of Children and Immigrants in a Pay-As-You-Go Pension System: A Proposal For a Partial Transition to a Funded System," CEPR Discussion Papers 1734, C.E.P.R. Discussion Papers.
    13. Martin Kolmar, 1997. "Intergenerational redistribution in a small open economy with endogenous fertility," Journal of Population Economics, Springer, vol. 10(3), pages 335-356.
    14. 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.
    15. Alessandro Cigno & Luca Casolaro & Furio C. Rosati, 2002. "The Impact of Social Security on Saving and Fertility in Germany," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(2), pages 189-, May.
    16. Werding, Martin, 1998. "Zur Rekonstruktion des Generationenvertrages," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 3, number urn:isbn:9783161468896, July.
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