Die Arbeit befaßt sich mit den Finanzierungsproblemen, die durch die prognostizierte Bevölkerungsentwicklung für die Gesetzliche Rentenversicherung entstehen. Zunächst wird herausgearbeitet, daß nur Instrumente, die an den demographischen Ursachen der Finanzierungsprobleme ansetzen, eine...

This paper analyses the sustainability of German public finance between 1996 and 2000 using a generational accounting approach. In contrast to previous studies based on generational accounting, the results are adjusted for cyclical and other temporary effects. This reduces the impact of...

This paper analyses the sustainability of German public finance between 1996 and 2000 using a generational accounting approach. In contrast to previous studies based on generational accounting, the results are adjusted for cyclical and other temporary effects. This reduces the impact of...

This paper examines public finance developments in Germany and Italy in 2009 and find that the larger stimulus measures adopted in Germany were associated with a more favorable underlying trend in the German budget balance. Overall, the cyclically-adjusted primary balances deteriorated by a...