Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/46213
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dc.contributor.authorHeidler, Matthias
dc.contributor.authorRaffelhüschen, Bernd
dc.date.accessioned2011-06-20en_US
dc.date.accessioned2011-06-28T14:01:18Z-
dc.date.available2011-06-28T14:01:18Z-
dc.date.issued2005
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.isoeng
dc.publisher|aAlbert-Ludwigs-Universität Freiburg, Forschungszentrum Generationenverträge (FZG) |cFreiburg i. Br.
dc.relation.ispartofseries|aDiscussion Papers, Forschungszentrum Generationenverträge der Albert-Ludwigs-Universität Freiburg |x6
dc.subject.jelH55
dc.subject.jelJ18
dc.subject.ddc330
dc.subject.keywordRisk
dc.subject.keywordinternal rate of return
dc.subject.keywordsustainability
dc.titleHow risky is the German pension system? The volatility of the internal rates of return
dc.typeWorking Paper
dc.identifier.ppn662495691
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen
dc.identifier.repecRePEc:zbw:fzgdps:6-

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