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From Traditional DB to Notional DC Systems: The Pension Reform Process in Sweden, Italy, and Germany

Author

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  • Axel Börsch-Supan

    (Mannheim Institute for the Economics of Aging and NBER,)

Abstract

This paper provides a critical review of the pension reform strategy that turns defined benefits (DB) public pay-as-you-go-systems into notional defined contribution (NDC) systems. We show that properly designed NDC public pension systems contain powerful economic and political mechanisms that may facilitate pension reform, but that the distinction between public NDC and DB systems is more ambiguous than usually claimed. (JEL: H55, J14, J26) Copyright (c) 2005 The European Economic Association.

Suggested Citation

  • Axel Börsch-Supan, 2005. "From Traditional DB to Notional DC Systems: The Pension Reform Process in Sweden, Italy, and Germany," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 458-465, 04/05.
    • Handle: RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:458-465
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    Cited by:

    1. John Geanakoplos & Stephen P. Zeldes, 2009. "Reforming Social Security with Progressive Personal Accounts," NBER Chapters, in: Social Security Policy in a Changing Environment, pages 73-121, National Bureau of Economic Research, Inc.
    2. Börsch-Supan, Axel, 2007. "Rational Pension Reform," MEA discussion paper series 07132, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.

    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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