Public Pensions and Economic Growth
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Springer-Verlag Berlin Heidelberg GmbH
Berthold U. Wigger
Public Pensions and Economic Growth With 11 Figures
,
Springer
Priv.-Doz. Dr. Berthold U. Wigger University of Mannheim Faculty of Economics Seminargebliude, AS 68131 Mannheim, Germany
Ais Habilitationsschrift auf Empfehlung der wirtschaftswissenschaftlichen Fakultlit Mannheim gedruckt mit Unterstutzung der Deutschen Forschungsgemeinschaft.
ISBN 978-3-642-07759-3 ISBN 978-3-540-24801-9 (eBook) DOl 10.1007/978-3-540-24801-9 Library of Congress Cataloging-in-Publication Data applied for Die Deutsche Bibliothek - CIP-Einheitsaufnahme Wigger. Berthold U.: Public pensions and economic growth I Berthold U. Wigger. Berlin; Heidelberg; New York; Barcelona; Hong Kong; London; Milan; Paris; Tokyo: Springer. 1001 Zugl.: Mannheim, Univ., Habil.-Schr. ISBN 978-3-642-07759-3
This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned. specifically the rights of translation. reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9,I96s, in its current version. and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. http://www.springer.de Berlin Heidelberg 1001 Originally published by Springer-Verlag Berlin Heidelberg New York in 2002 Softcover reprint of the hardcover 1st edition 2002 The use of general descriptive names, registered names. trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: Erich Kirchner, Heidelberg 41/1101-S 4 3 1 1 0 - Printed on non-aging paper S PI N 10869147
o Springer-Verlag
to my parents
Preface
This book contains material that I have presented in seminars at the Universities of Bochum, Mannheim, Munich, Salerno, and Southern California at Los Angeles, the Institute for Advanced Studies in Vienna, the Max-Planck-Institute for Demographic Research in Rostock, and on various international meetings and conferences. In preparing and revising the material I have benefited from comments, discussions, and advice from several colleagues. I had particularly close and friendly collaboration with Alexander Kemnitz and Robert von Weizsicker to whom I am very grateful. I am also grateful to Michele Boldrin, Axel Borsch-Supan, Friedrich Breyer, Karen Feist, Tullio Jappelli, Leo Kaas, Marco Pagano, Gerhard Schwooiauer, Carl Christian von Weizsacker, and Wolfgang Wiegard for their comments and suggestions. Finally, I would like to thank the Deutsche Forschungsgemeinschaft for financial support. Mannheim, January 2002
Berthold U. Wigger
Contents
1. Introduction
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2. Public Pensions and Economic Growth:
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