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    <title>EconStor Collection: Diskussionsbeiträge, Inst. f. Finanzwissenschaft, Universität Freiburg</title>
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      <title>Gefahr erkannt, Gefahr gebannt? Nachhaltigkeitsbilanz der 15. Legislaturperiode des deutschen Bundestages 2002-2005</title>
      <link>http://hdl.handle.net/10419/38836</link>
      <description>Titel: Gefahr erkannt, Gefahr gebannt? Nachhaltigkeitsbilanz der 15. Legislaturperiode des deutschen Bundestages 2002-2005
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&lt;br/&gt;Autoren: Mevis, Dirk; Weddige, Olaf</description>
      <pubDate>Sat, 29 Oct 2005 22:58:59 GMT</pubDate>
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      <title>Internal rates of return of the German statutory long-term care insurance</title>
      <link>http://hdl.handle.net/10419/38835</link>
      <description>Titel: Internal rates of return of the German statutory long-term care insurance
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&lt;br/&gt;Autoren: Häcker, Jasmin; Raffelhüschen, Bernd
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&lt;br/&gt;Zusammenfassung: 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.</description>
      <pubDate>Fri, 29 Oct 2004 22:58:59 GMT</pubDate>
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      <title>Die Schulden und Versorgungsverpflichtungen der Länder: Was ist und was kommt</title>
      <link>http://hdl.handle.net/10419/38834</link>
      <description>Titel: Die Schulden und Versorgungsverpflichtungen der Länder: Was ist und was kommt
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&lt;br/&gt;Autoren: Besendorfer, Daniel; Phuong Dang, Emily; Raffelhüschen, Bernd</description>
      <pubDate>Sat, 29 Oct 2005 22:58:59 GMT</pubDate>
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    <item>
      <title>How risky is the German pension system? The volatility of the internal rates of return</title>
      <link>http://hdl.handle.net/10419/38833</link>
      <description>Titel: How risky is the German pension system? The volatility of the internal rates of return
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&lt;br/&gt;Autoren: Heidler, Matthias; Raffelhüschen, Bernd
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&lt;br/&gt;Zusammenfassung: In this paper we analyze exemplarily the volatility of the internal rates of return of the German pension system over the life-cycle of an individual born in 1957. The outcome is compared to an alternative defined-contribution or defined-benefit policy. Based on the actual data, our resultsshow the volatility of the internal rate of return to be significantly higherunder the actual policy. We furthermore find that the sustainable internalrates of return are close to zero for the youngest male cohorts and posi-tive for females for optimistic growth scenarios. In more realistic scenariosthings turn worse.</description>
      <pubDate>Fri, 29 Oct 2004 22:58:59 GMT</pubDate>
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