The Value of Children and Immigrants in a Pay-As-You-Go Pension System: A Proposal for a Partial Transition to a Funded System

Hans-Werner Sinn

No 6229, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: It is shown that the net fiscal externality created by an additional member of a pay-as-you-go pension system that is endowed with individual accounts equals the gross contributions" of this member. In Germany, this is an amount of about DM 175,000. The paper uses this" information to design a hybrid funded system that avoids this externality and improves the" public pension system under equity and efficiency considerations.

JEL-codes: H55 J6 (search for similar items in EconPapers)
Date: 1997-10
Note: PE
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Citations: View citations in EconPapers (27)

Published as Sinn, Hans-Werner. "The Value of Children and Immigrants in a Pay-as-You-Go Pension System: A Proposal for a Partial Transition to a Funded System." Ifo Studien 47, 1 (2001): 77-94.

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Working Paper: The Value of Children and Immigrants in a Pay-as-you-go Pension System: A Proposal for a Partial Transition to a Funded System (1997)
Working Paper: The Value of Children and Immigrants in a Pay-As-You-Go Pension System: A Proposal For a Partial Transition to a Funded System (1997)
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