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Eine konstitutionelle Reform der Altersvorsorge


  • Michael Voigtländer


  • Barbara Henman



For decades, economists have been urging politicians to reform pension systems, but in many cases the proposals have been rejected by referring to unresolved questions of economic justice. This dilemma can be avoided by using the concept of constitutional economics, which allows us to address the issues of efficiency and justice at the same time. We conclude that a society behind a veil of uncertainty would settle for a compulsory pay-as-you-go which provides a minimum pension. However, to avoid the system being undermined by free-riding, such a benefit would only be granted to those individuals who contributed to the accumulation of human capital. Everyone else would be required to save individually to secure their minimum pension.

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  • Michael Voigtländer & Barbara Henman, 2003. "Eine konstitutionelle Reform der Altersvorsorge," Otto-Wolff-Institut Discussion Paper Series 02/2003, Otto-Wolff-Institut für Wirtschaftsordnung, Köln, Deutschland.
  • Handle: RePEc:kln:owiwdp:dp_av

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    References listed on IDEAS

    1. Sinn, Hans-Werner & Uebelmesser, Silke, 2003. "Pensions and the path to gerontocracy in Germany," European Journal of Political Economy, Elsevier, vol. 19(1), pages 153-158, March.
    2. Laurence J. Kotlikoff, 1998. "Simulating the Privatization of Social Security in General Equilibrium," NBER Chapters,in: Privatizing Social Security, pages 265-311 National Bureau of Economic Research, Inc.
    3. Hans-Werner Sinn, 1998. "The Pay-as-you-go Pension System as a Fertility Insurance and Enforcement Device," CESifo Working Paper Series 154, CESifo Group Munich.
    4. Homburg, Stefan, 2000. "Compulsory savings in the welfare state," Journal of Public Economics, Elsevier, vol. 77(2), pages 233-239, August.
    5. Stefan Homburg, 1991. "Interest and Growth in an Economy with Land," Canadian Journal of Economics, Canadian Economics Association, vol. 24(2), pages 450-459, May.
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