Old times, better times? German miners' Knappschaften , pay-as-you-go pensions, and implicit rates of return, 1854–1913
Bibliographic Data
| ID | 8419409 |
|---|---|
| Authors | Tobias A Jopp (0000-0002-5317-0690, a Economic and Social History , University of Hohenheim , Stuttgart, Germany, corresponding author) |
| Year | 2011 |
| Volume | 53 |
| Issue | 7 |
| Pages | 1018-1043 |
| Publication date | 2011-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Business History (JOURNAL) |
| Journal identifiers | ISSN: 0007-6791 • E-ISSN: 1743-7938 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/00076791.2011.582575 |
| OpenAlex | W3021872596 |
| Language | EN |
| Citations received | 7 |
| References cited | 22 |
This paper contributes to the literature on the weakness of modern pay-as-you-go social security systems in financing pensions by taking a business and economic historical perspective on the issue. It focuses on Prussian Knappschaften (plural ofKnappschaft), which provided miners with compulsory invalidity and implicit old-age insurance, and studies the period from 1854 to 1913. Knappschaften used the pay-as-you-go mechanism, and, in the long term, came under financial pressure from the rising number of pensioners. The question to be answered is whether Knappschaften were able to offer cohorts of miners entering the system at different times the same implicit rates of return. Did Knappschaften provide an intergenerationally sustainable policy, or did adjustments of contributions and other parameters decrease the dividend for insured miners over time
Actuarial science · Dividend · Economics · German · Market economy · Pension · Social security · Finance · Financial Literacy, Pension, Retirement Analysis · German Economic Analysis & Policies · Global Health Care Issues · History
Pre-welfare state provision and adverse selection
Organizing Spanish-British mining companies
Exclusion of women and organisational characteristics
Incentives That (Could Have) Saved Lives
Workplace accidents and workers' solidarity
The Introduction of Bismarck's Social Security System and its Effects on Marriage and Fertility in Prussia
After us, the deluge
Das Wachstum der deutschen Wirtschaft seit der Mitte des 19. Jahrhunderts
Die Reichsknappschaft
Pay-As-You-Go versus funded systems. Some critical considerations
Social security in an aging society
Demography, the cost of pensions and the move to pension funds
Workers, workers’ productivity and the dependency ratio in Germany
The Silent Revolution
Coalowners, Coalminers and Compulsion
Mutuality Tested
Moral Hazard in a Mutual Health Insurance System
Guilds, efficiency, and social capital
| Unique citing works | 7 |
|---|---|
| Citations per year | 0,64 |
| Citation span | 2015 - 2024 (10) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 7 |