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dc.contributor.authorHeidler, Matthiasen_US
dc.contributor.authorRaffelhüschen, Bernden_US
dc.date.accessioned2011-06-20en_US
dc.date.accessioned2011-06-28T14:01:18Z-
dc.date.available2011-06-28T14:01:18Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/46213-
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 results show the volatility of the internal rate of return to be significantly higher under the actual policy. We furthermore find that the sustainable internal rates of return are close to zero for the youngest male cohorts and positive for females for optimistic growth scenarios. In more realistic scenarios things turn worse.en_US
dc.language.isoengen_US
dc.publisherForschungszentrum Generationenverträge Freiburgen_US
dc.relation.ispartofseriesDiskussionsbeiträge / Forschungszentrum Generationenverträge der Albert-Ludwigs-Universität Freiburg 6en_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.titleHow risky is the German pension system? The volatility of the internal rates of returnen_US
dc.typeWorking Paperen_US
dc.identifier.ppn662495691en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:fzgdps:6-
Appears in Collections:Diskussionsbeiträge des Forschungszentrums Generationenverträge, Universität Freiburg

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