Borgmann, Christoph; Heidler, Matthias - In: FinanzArchiv: Public Finance Analysis 63 (2007) 1, pp. 83-106
We address the question of how the generosity of the German public pension systems' benefit rule has changed during the past three decades. In order to do so, we firstly outline the social security reforms of the past 50 years. Then, we illustrate political risk by measuring the volatility of...