Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/20666 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 1369
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
This paper addresses the questions of what is an economically efficient pension system, what are the externalities and what are the risks of the four alternative pension systems: financial defined contribution (FDC), notional or non-financial defined contribution (NDC), financial defined benefit (FDB) and non-financial defined benefit (NDB). A main contribution of the paper is the development of the concept of NDC, itself a new construction in pension economics. An important conclusion is that NDC is neutral in terms of externalities. It manages the risks and eliminates the negative externalities associated with traditional public NDB schemes, and in a manner similar to FDC schemes.
Schlagwörter: 
pensions
NDC
FDC
notional account systems
financial account systems
funding
externalities
risks
defined contribution
government debt
JEL: 
D91
H55
J26
H23
D8
G23
D6
Dokumentart: 
Working Paper

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