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dc.contributor.authorHeidler, Matthiasen
dc.contributor.authorRaffelhüschen, Bernden
dc.date.accessioned2005-12-06-
dc.date.accessioned2010-08-17T12:45:58Z-
dc.date.available2010-08-17T12:45:58Z-
dc.date.issued2005-
dc.identifier.piurn:nbn:de:bsz:25-opus-22011en
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
dc.language.isoengen
dc.publisher|aAlbert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft |cFreiburg i. Br.en
dc.relation.ispartofseries|aDiskussionsbeiträge |x138en
dc.subject.jelH55en
dc.subject.jelJ18en
dc.subject.ddc330en
dc.subject.keywordrisken
dc.subject.keywordinternal rate of returnen
dc.subject.keywordsustainabilityen
dc.subject.stwRenditeen
dc.subject.stwVolatilitäten
dc.subject.stwRisikoen
dc.subject.stwLebenszyklusen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleHow risky is the German pension system? The volatility of the internal rates of return-
dc.typeWorking Paperen
dc.identifier.ppn503990345en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:alufin:138en

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