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Diskussionsbeiträge, Inst. f. Finanzwissenschaft, Universität Freiburg >

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dc.contributor.authorHeidler, Matthiasen_US
dc.contributor.authorRaffelhüschen, Bernden_US
dc.date.accessioned2005-12-06en_US
dc.date.accessioned2010-08-17T12:45:58Z-
dc.date.available2010-08-17T12:45:58Z-
dc.date.issued2005en_US
dc.identifier.piurn:nbn:de:bsz:25-opus-22011-
dc.identifier.urihttp://hdl.handle.net/10419/38833-
dc.description.abstractIn 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.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesDiskussionsbeiträge // Institut für Finanzwissenschaft der Albert-Ludwigs-Universität Freiburg im Breisgau 138en_US
dc.subject.jelH55en_US
dc.subject.jelJ18en_US
dc.subject.ddc330en_US
dc.subject.keywordrisken_US
dc.subject.keywordinternal rate of returnen_US
dc.subject.keywordsustainabilityen_US
dc.subject.stwRenditeen_US
dc.subject.stwVolatilitäten_US
dc.subject.stwRisikoen_US
dc.subject.stwLebenszyklusen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleHow risky is the German pension system? The volatility of the internal rates of returnen_US
dc.typeWorking Paperen_US
dc.identifier.ppn503990345en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:alufin:138-
Appears in Collections:Diskussionsbeiträge, Inst. f. Finanzwissenschaft, Universität Freiburg

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