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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/26635
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| Title: | | How to avoid a pension crisis: a question of intelligent system design  |
| Authors: | | Cigno, Alessandro |
| Issue Date: | | 2009 |
| Series/Report no.: | | CESifo working paper 2590 |
| Abstract: | | Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing individuals to qualify for a pension by working and paying contributions in the usual way, and an unconventional one allowing them to qualify for a pension by having children, and investing time and money in their upbringing. |
| Subjects: | | Pension reform implicit pension taxes and subsidies child benefits fertility labour productivity |
| JEL: | | D13 D64 H55 J13 J14 J26 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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