Pension reform during the demographic transition
AbstractLike in many other OECD countries, the population will age rapidly in Germany during the next decades. This undermines the future sustainability of the current unfunded public pension system and motivates the search for reform options. The present paper aimes to evaluate some currently discussed pension reform proposals. The numerical analysis is based on an extended overlapping-generations model which accounts for rising life expectancy and declining fertility in oder to replicate the demographic transition in Germany. Given the current unfunded pension system, the model first calculates a baseline path of the economy. Then it compares the macroeconomic impact as well as the distributional and efficiency effects of various reform measures such as partial funding and tax financed minimum pensions. --
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Bibliographic InfoPaper provided by University of Würzburg, Chair for Monetary Policy and International Economics in its series W.E.P. - Würzburg Economic Papers with number 8.
Date of creation: 1999
Date of revision:
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More information through EDIRC
Population Ageing; Pension reform; overlapping-generations models;
Other versions of this item:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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