Pensions and the path to gerontocracy in Germany
AbstractAn impending demographic crisis in Germany calls for fundamental reforms of the pension system. In a democracy, however, reforms require the support of the majority of the electorate. To determine whether the majority is in favour of reforms of the pension system, we calculate for each year the \"indifference age\" as the age of the cohort that is not affected by the reform and the \"median age\" as the age of the politically decisive cohort. Until 2016, a reform can be democratically enforced. After 2016, Germany will be a gerontocracy.
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Bibliographic InfoPaper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 19563.
Date of creation: 2003
Date of revision:
Publication status: Published in European Journal of Political Economy 1 19(2003): pp. 153-158
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- Hans-Werner Sinn, 1999. "Pension Reform and Demographic Crisis: Why a Funded System is Needed and why it is not Needed," CESifo Working Paper Series 195, CESifo Group Munich.
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