IDEAS home Printed from https://ideas.repec.org/p/ces/ceswps/_510.html
   My bibliography  Save this paper

The Rationale for Fundamental Pension Reform in Germany and the United States: An Assessment

Author

Listed:
  • Gary Burtless

Abstract

This paper considers the arguments for fundamental pension reform in Germany and the United States. The two countries have recently made or are considering reforms that would reduce the generosity of the traditional, pay-as-you-go pension system. Some or all of the lost benefits would be replaced by pensions from newly created individual, defined-benefit, retirement accounts. The paper addresses three questions that are relevant for assessing fundamental reform: (1) Should the pension system move toward advance funding of future benefit obligations? (2) What financial assets should be accumulated to back future pension promises? (3) Should the existing system be reformed to include individual retirement accounts?

Suggested Citation

  • Gary Burtless, 2001. "The Rationale for Fundamental Pension Reform in Germany and the United States: An Assessment," CESifo Working Paper Series 510, CESifo.
    • Handle: RePEc:ces:ceswps:_510
    as

    Download full text from publisher

    File URL: https://www.cesifo.org/DocDL/cesifo_wp510.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mr. Alfredo Cuevas & Mr. George A Mackenzie & Mr. Philip R. Gerson, 1997. "Pension Regimes and Saving," IMF Occasional Papers 1997/006, International Monetary Fund.
    2. Gary Burtless, 2000. "Social Security Privatization and Financial Market Risk: Lessons from U.S. Financial History," Discussion Papers of DIW Berlin 211, DIW Berlin, German Institute for Economic Research.
    3. International Monetary Fund, 2000. "Germany: Selected Issues," IMF Staff Country Reports 2000/142, International Monetary Fund.
    4. World Bank, 2000. "World Development Indicators 2000," World Bank Publications - Books, The World Bank Group, number 13828.
    5. Eric M. Engen & Andreas Lehnert, 2000. "Mutual funds and the U.S. equity market," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 86(Dec), pages 797-812, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert Fenge & Martin Werding, 2004. "Ageing and the tax implied in public pension schemes: simulations for selected OECD countries," Fiscal Studies, Institute for Fiscal Studies, vol. 25(2), pages 159-200, June.
    2. Gary Burtless, 2004. "The Age Profile of Income and the Burden of Unfunded Transfers in Four Countries: Evidence from the Luxembourg Income Study," LIS Working papers 394, LIS Cross-National Data Center in Luxembourg.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. repec:ilo:ilowps:366690 is not listed on IDEAS
    2. Janvier D. Nkurunziza, 2005. "Reputation and Credit without Collateral in Africa`s Formal Banking," Economics Series Working Papers WPS/2005-02, University of Oxford, Department of Economics.
    3. Elif Bascavusoglu & Maria Pluvia Zuniga, 2005. "The effects of intellectual property protection on international knowledge contracting," Cahiers de la Maison des Sciences Economiques bla05009, Université Panthéon-Sorbonne (Paris 1).
    4. Gylfason, Thorvaldur, 2001. "Natural resources, education, and economic development," European Economic Review, Elsevier, vol. 45(4-6), pages 847-859, May.
    5. Lindelow, Magnus, 2002. "Health care demand in rural Mozambique," FCND discussion papers 126, International Food Policy Research Institute (IFPRI).
    6. Anindita Datta, 2003. "Articulation of an Integrated Women's Health Policy Using the Life Cycle Approach," Indian Journal of Gender Studies, Centre for Women's Development Studies, vol. 10(1), pages 25-43, March.
    7. Dorward, Andrew & Kydd, Jonathan & Poulton, Colin, 2004. "Market and Coordination Failures in Poor Rural Economies: Policy Implications for Agricultural and Rural Development," 2004 Inaugural Symposium, December 6-8, 2004, Nairobi, Kenya 9535, African Association of Agricultural Economists (AAAE).
    8. Benjamin Liebman, 2004. "ITC voting behavior on sunset reviews," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 140(3), pages 446-475, September.
    9. Assar Lindbeck & Mats Persson, 2003. "The Gains from Pension Reform," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 74-112, March.
    10. Santiago-Rodriguez, Fernando, 2008. "Facing the Trial of Internationalizing Clinical Trials to Developing Countries: Some Evidence from Mexico," MERIT Working Papers 2008-023, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    11. Federico Bonaglia & Jorge Braga de Macedo & Maurizio Bussolo, 2009. "How Globalisation Improves Governance," Chapters, in: Linda Yueh (ed.), The Law and Economics of Globalisation, chapter 7, Edward Elgar Publishing.
    12. Jonathan Eaton & Samuel Kortum & Francis Kramarz, 2004. "Dissecting Trade: Firms, Industries, and Export Destinations," American Economic Review, American Economic Association, vol. 94(2), pages 150-154, May.
    13. Gitli, Eduardo & Arce, Randall, 2001. "The WTO entry of China and its impact on the countries of the Caribbean Basin," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    14. Piazolo, Daniel & Kokta, Robert M. & Buch, Claudia M., 2001. "Does the East Get What Would Otherwise Flow to the South? FDI Diversion in Europe," Kiel Working Papers 1061, Kiel Institute for the World Economy (IfW Kiel).
    15. Man Liang & Shuwen Niu & Zhen Li & Wenli Qiang, 2019. "International Comparison of Human Development Index Corrected by Greenness and Fairness Indicators and Policy Implications for China," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 142(1), pages 1-24, February.
    16. Dirk Dohse & Rajeev K. Goel & Michael A. Nelson, 2019. "What induces firms to license foreign technologies? International survey evidence," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 40(7), pages 799-814, October.
    17. R. Quentin Grafton & Stephen Knowles, 2002. "Social Capital and National Environmental Performance: A Cross-sectional Analysis," Economics and Environment Network Working Papers 0206, Australian National University, Economics and Environment Network.
    18. Thorvaldur Gylfason & Gylfi Zoega, 2006. "Natural Resources and Economic Growth: The Role of Investment," The World Economy, Wiley Blackwell, vol. 29(8), pages 1091-1115, August.
    19. repec:hal:spmain:info:hdl:2441/4hgajj9cf48dladkd9pn9jcj4p is not listed on IDEAS
    20. Simon J. Evenett & Wolfgang Keller, 2002. "On Theories Explaining the Success of the Gravity Equation," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 281-316, April.
    21. Francois Gurtner, 2002. "Currency Board and Debt Trap: Evidence from Argentina and Relevance for Estonia," CERT Discussion Papers 0204, Centre for Economic Reform and Transformation, Heriot Watt University.
    22. Kargbo, Joseph M., 2003. "Cointegration Tests of Purchasing Power Parity in Africa," World Development, Elsevier, vol. 31(10), pages 1673-1685, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_510. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/cesifde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.