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Europe's Demographic Deficit

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Author Info
Sinn, Hans-Werner
Abstract

Due to exceptionally low birth rates, the dynamism of Europe will be lagging behind that of other regions of the world for the time being. The paper assembles a rich body of comparative empirical data to clarify the extent of the demographic problems for the EU countries. It advances the view that the low birth rates in part result from early government interventions in terms of socializing the fruits of human capital investment via the pay-as-you-go pension system. To mitigate the extent of socialization, it considers a policy of freezing the contribution rates within the existing pensions systems, forcing the childless to save and providing an additional tax-financed "child pension" tax to parents.

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Paper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 934.

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Date of creation: 2005
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Handle: RePEc:lmu:muenec:934

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Related research
Keywords: pension system; birth rate; human capital; demography;

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Find related papers by JEL classification:
H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
J1 - Labor and Demographic Economics - - Demographic Economics

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  1. Cigno, Alessandro & Camillio Rosati, Furio, 1997. "Rise and fall of the Japanese saving rate: The role of social security and intra-family transfers," Japan and the World Economy, Elsevier, vol. 9(1), pages 81-92, March. [Downloadable!] (restricted)
  2. Alessandro Cigno & Luca Casolaro & Furio C. Rosati, 2000. "The Role of Social Security in Household Decisions: Var Estimates of Saving and Fertility Behaviour in Germany," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  3. Oksanen, H., 2001. "A Case for Partial Funding of Pensions with an Application to the EU Candidate Countries," European Economy - Economic Papers 149, Commission of the EC, Directorate-General for Economic and Financial Affairs (DG ECFIN).
  4. Robert Fenge & Martin Werding, 2004. "Ageing and the tax implied in public pension schemes: simulations for selected OECD countries," Fiscal Studies, Institute for Fiscal Studies, vol. 25(2), pages 159-200, June.
    Other versions:
  5. Sinn, Hans-Werner, 2004. "The pay-as-you-go pension system as fertility insurance and an enforcement device," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1335-1357, July. [Downloadable!] (restricted)
  6. Heikki Oksanen, 2001. "A Case for Partial Funding of Pensions with an Application to the EU Candidate Countries," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  7. Ehrlich, Isaac & Zhong, Jian-Guo, 1998. "Social Security and the Real Economy: An Inquiry into Some Neglected Issues," American Economic Review, American Economic Association, vol. 88(2), pages 151-57, May. [Downloadable!] (restricted)
  8. Hans-Werner Sinn, 2004. "EU Enlargement, Migration and the New Constitution," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  9. Hans-Werner Sinn & Martin Werding, 2001. "Zuwanderung nach der EU-Osterweiterung: Wo liegen die Probleme?," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 54(08), pages 18-27, 05.
  10. Brunner, Johann K., 1996. "Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness," Journal of Public Economics, Elsevier, vol. 60(1), pages 131-146, April. [Downloadable!] (restricted)
  11. Sinn, Hans-Werner, 2004. "The pay-as-you-go pension system as fertility insurance and an enforcement device," Discussion Papers in Economics 938, University of Munich, Department of Economics. [Downloadable!]
  12. Card, David, 1999. "The causal effect of education on earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 30, pages 1801-1863 Elsevier. [Downloadable!] (restricted)
  13. Martin Feldstein, 1995. "Would Privatizing Social Security Raise Economic Welfare?," NBER Working Papers 5281, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  14. 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. [Downloadable!] (restricted)
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