Pension reform during the demographic transition
Like 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.
|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (0931) 31-2901
Fax: (0931) 31-2101
Web page: http://www.vwl.uni-wuerzburg.de/en/no_cache/lehrstuehle/vwl1/home/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Miles, David, 1999.
"Modelling the Impact of Demographic Change upon the Economy,"
Royal Economic Society, vol. 109(452), pages 1-36, January.
- Miles, David K, 1997. "Modelling the Impact of Demographic Change Upon the Economy," CEPR Discussion Papers 1762, C.E.P.R. Discussion Papers.
- Steven A. Sass & Robert K. Triest, 1997. "Social Security reform: links to saving, investment and growth," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 41(Jun).
- Barro, Robert J., 1974.
"Are Government Bonds Net Wealth?,"
3451399, Harvard University Department of Economics.
- Schnabel, Reinhold, 1997. "Rates of Return of the German Pay-As-You-Go Pension System," Sonderforschungsbereich 504 Publications 98-56, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
- Fehr, Hans, 1998.
"Privatization of public pensions in Germany: Who gains and how much?,"
148, University of Tübingen, School of Business and Economics.
- Hans Fehr, 1999. "Privatization of Public Pensions in Germany: Who Gains and How Much?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 218(5+6), pages 674-694, May.
- Broer, Peter D. & Lassila, Jukka, . "Pension Policies and Public Debt in Dynamic CGE Models," ETLA A, The Research Institute of the Finnish Economy, number 23.
- Steigum, E.Jr., 1992. "Accounting for Long-Run Effects of Fiscal Policy by Means of Computable Overlapping Generations Models," Papers 05-92, Norwegian School of Economics and Business Administration-.
When requesting a correction, please mention this item's handle: RePEc:zbw:wuewep:8. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.