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Internal rates of return of the German statutory long-term care insurance


  • Häcker, Jasmin
  • Raffelhüschen, Bernd


Presuming an ageing population, every introduction of a pay-as-you-go scheme causes intergenerational redistribution in favor of the first generations and to the burden of young and future generations. Using the concept of internal rates of return we want to examine the extent to which the first generations drew an introductory benefit from the implementation of the German statutory long-term care insurance as an unfunded system. Furthermore, a comparison between the internal rates of return will show firstly to what extent different generations are burdened by having to redeem the implicit debt, and secondly which generations are involved in paying back the introductory gain.

Suggested Citation

  • Häcker, Jasmin & Raffelhüschen, Bernd, 2005. "Internal rates of return of the German statutory long-term care insurance," FZG Discussion Papers 5, University of Freiburg, Research Center for Generational Contracts (FZG).
  • Handle: RePEc:zbw:fzgdps:5

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    References listed on IDEAS

    1. Sinn, Hans-Werner, 2000. "Why a Funded Pension System is Useful and Why It is Not Useful," Munich Reprints in Economics 19859, University of Munich, Department of Economics.
    2. Feldstein, Martin, 1995. "Fiscal policies, capital formation, and capitalism," European Economic Review, Elsevier, vol. 39(3-4), pages 399-420, April.
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    More about this item


    Long-Term Care Insurance; Internal Rate of Return; Demography;

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General


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