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Autor:innen: 
Erscheinungsjahr: 
1999
Schriftenreihe/Nr.: 
CESifo Working Paper No. 191
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
The paper discusses the options for a reform of the German pension system using a model developed at CES for the German Council of economic advisors to the Federal Ministry of Economics and Research. It is argued that the German pay-as-you-go-system is efficient in a present value sense but will nevertheless need the support of a funded system to avoid a financial crisis. The paper recommends obligatory priv ate savings at a variable rate where the time path of the savings rate is chosen so as to stabilize the sum of this rate and the pay-as-you-go contribution rate, given the time path of pensions as defined in the present system.
Schlagwörter: 
Pension insurance
pay-as-you-go system
savings
Germany
Dokumentart: 
Working Paper
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