Arbeitspapier
Long-term outlook for the German statutory pension system
This paper presents long term projections of the German pension system that are based on a general equilibrium model with overlapping generations (OLG). This framework takes into account the two way feedback of both micro and macroeconomic relationships, meaning that households, for example, react to changes in the statutory pension system, such as the retirement age or the replacement rate. Changes in households' behaviour, in turn, impact on macroeconomic developments and public finances. One approach to parametrically reform the pension system would be linking (indexing) the retirement age systematically to increasing life expectancy. The model shows that the resulting increase in employment would also bolster social security contributions and taxes. Moreover, with a rising retirement age and the associated longer periods of work, pension entitlements would increase.
- ISBN
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978-3-95729-703-7
- Language
-
Englisch
- Bibliographic citation
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Series: Deutsche Bundesbank Discussion Paper ; No. 22/2020
- Classification
-
Wirtschaft
Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications
Fiscal Policy
Social Security and Public Pensions
Demographic Trends, Macroeconomic Effects, and Forecasts
Retirement; Retirement Policies
- Subject
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Demographic Change
Pension System
OLG Models
- Event
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Geistige Schöpfung
- (who)
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Schön, Matthias
- Event
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Veröffentlichung
- (who)
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Deutsche Bundesbank
- (where)
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Frankfurt a. M.
- (when)
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2020
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Schön, Matthias
- Deutsche Bundesbank
Time of origin
- 2020
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