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Internal rates of return of the German statutory long-term care insurance

Jasmin Häcker and Bernd Raffelhüschen

No 137, Discussion Papers from Albert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft

Abstract: Presuming an ageing population, every introduction of a pay-as-you-go scheme causes intergenerational redistribution in favor of the first generations and to the burden of young and future generations. Using the concept of internal rates of return we want to examine the extent to which the first generations drew an introductory benefit from the implementation of the German statutory long-term care insurance as an unfunded system. Furthermore, a comparison between the internal rates of return will show firstly to what extent different generations are burdened by having to redeem the implicit debt, and secondly which generations are involved in paying back the introductory gain.

Keywords: long-term care insurance; internal rate of return; demography (search for similar items in EconPapers)
JEL-codes: I18 J10 (search for similar items in EconPapers)
Date: 2005
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