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Social Security and Intergenerational Redistribution: A Generational Accounting Perspective

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  • Boll, Stephan
  • Raffelhuschen, Bernd
  • Walliser, Jan

Abstract

This paper is concerned with the analysis of intergenerational redistribution in a pay-as-you-go financed social security scheme. Instead of annual fiscal indicators, we apply generational accounts to calculate the intertemporal effects arising from a projected aging process. As a case study, the institutional settings and the parameterization of our model refer to the conditions found in Germany in 1989. Additionally, the intergenerational impacts of the German 1992 Pension Reform Act are taken into account. Our findings suggest that the major reform measures affect the distribution of the demographic burden between future and presently living generations. However, the burden is shifted in favor of the generations currently alive, thereby contradicting the explicit political intentions and aggravating the situation for future generations. Copyright 1994 by Kluwer Academic Publishers

Suggested Citation

  • Boll, Stephan & Raffelhuschen, Bernd & Walliser, Jan, 1994. "Social Security and Intergenerational Redistribution: A Generational Accounting Perspective," Public Choice, Springer, vol. 81(1-2), pages 79-100, October.
    • Handle: RePEc:kap:pubcho:v:81:y:1994:i:1-2:p:79-100
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    Citations

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    Cited by:

    1. Fanny A. Kluge, 2009. "Transfers, consumption and income over the lifecycle in Germany," MPIDR Working Papers WP-2009-014, Max Planck Institute for Demographic Research, Rostock, Germany.
    2. Feist, Karen & Krimmer, Pascal & Raffelhüschen, Bernd, 2001. "Intergenerative Effekte einer lebenszyklusorientierten Einkommensteuerreform: Die Einfachsteuer des Heidelberger Steuerkreises," Discussion Papers 98, Albert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft.
    3. Holger Bonin & Joan Gil & Concepció Patxot, 2001. "Beyond the Toledo agreement: the intergenerational impact of the Spanish Pension Reform," Spanish Economic Review, Springer;Spanish Economic Association, vol. 3(2), pages 111-130.
    4. Hans Fehr & Laurence J. Kotlikoff & Willi Leibfritz, 1999. "Generational Accounting in General Equilibrium," NBER Chapters, in: Generational Accounting around the World, pages 43-72, National Bureau of Economic Research, Inc.
    5. Krimmer, Pascal & Raffelhüschen, Bernd, 2003. "Intergenerative Umverteilung und Wachstumsimpulse der Steuerreformen 1999 bis 2005: Die Perspektive der Generationenbilanz," Discussion Papers 105, Albert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft.
    6. Beetsma, Roel & Komada, Oliwia & Makarski, Krzysztof & Tyrowicz, Joanna, 2021. "The political (in)stability of funded social security," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    7. Concepció Patxot & Elisenda Rentería & Miguel Romero & Guadalupe Souto, 2012. "Measuring the balance of government intervention on forward and backward family transfers using NTA estimates: the modified Lee arrows," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(3), pages 442-461, June.
    8. Sayan, Serdar & Kiraci, Arzdar, 2001. "Parametric pension reform with higher retirement ages: A computational investigation of alternatives for a pay-as-you-go-based pension system," Journal of Economic Dynamics and Control, Elsevier, vol. 25(6-7), pages 951-966, June.
    9. Ásta Herdís Hall & Sólveig Frída Jóhannsdóttir, 2002. "Generational Equality in Iceland," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 28, pages 27-42.
    10. Li Tan & Cory Koedel, 2019. "The Effects of Differential Income Replacement and Mortality on U.S. Social Security Redistribution," Southern Economic Journal, John Wiley & Sons, vol. 86(2), pages 613-637, October.
    11. Boll, Stephan, 1996. "Intergenerative Verteilungseffekte öffentlicher Haushalte: Theoretische Konzepte und empirischer Befund für die Bundesrepublik Deutschland," Discussion Paper Series 1: Economic Studies 1996,06, Deutsche Bundesbank.
    12. Bernd Raffelhuschen & Jan Walliser & Willi Leibfritz, 1999. "Unification and Aging in Germany: Who Pays and When?," NBER Chapters, in: Generational Accounting around the World, pages 277-298, National Bureau of Economic Research, Inc.
    13. Boll, Stephan, 1996. "Intergenerational redistribution through the public sector: Methodology of generational accounting and its empirical application to Germany," Discussion Paper Series 1: Economic Studies 1996,06e, Deutsche Bundesbank.
    14. Cristophe Borgmann & Pascal Krimmer & Bernd Raffelhüshen, 2001. "Rentenreformen 1998–2001: Eine (vorläufige) Bestandsaufnahme," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 2(3), pages 319-334, August.
    15. Róbert I. Gál & András Simonovits & Géza Tarcali, 2001. "Generational Accounting and Hungarian Pension Reform," World Bank Publications - Reports 20233, The World Bank Group.
    16. Gál, Róbert I. & Simonovits, András & Tarcali, Géza, 2001. "Generational accounting and Hungarian pension reform," Social Protection Discussion Papers and Notes 90343, The World Bank.
    17. Carlo Bianchi & Marzia Romanelli & Pietro A. Vagliasindi, 2003. "Microsimulating the Evolution of Italian Pension Benefits: the Role of Retirement Choices and Lowest Pensions Indexing," LABOUR, CEIS, vol. 17(s1), pages 139-173, August.

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