Germany has one of the most generous retirement systems in the world. At the very same time, Germany also faces one of the most incisive population aging processes. The ratio of workers to pensioners will decrease to about one to one within the next generation. This will put the German pay-as-you-go social security system under sever pressure. This paper has three aims. First, it shows that the design ...
Mannheim:
Universität Mannheim, Sonderforschungsbereich 504,
1997,
(Arbeitspapier Nr. 97/023)
| Axel H. Börsch-Supan