Rational pension reform

Axel Börsch-Supan

No 07-25, Papers from Sonderforschungsbreich 504

Abstract: This paper is motivated by the idea to create, wherever possible, rational mechanisms that adapt pension systems automatically to a changed economic and demographic environment, rather than to leave such adaptations to discretionary high-profile pension reforms which all too often stir political opposition. The paper delineates the theory behind such rational mechanisms, shows the advantages and limits of „self-stabilizing“ pension systems, and compares the Swedish and the German approaches to rule-bound pension policy.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:mnh:spaper:2567

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