In the German pension debate, reform options are repeatedly proposed that are doomed to failure right from the start as they cannot be legally implemented to begin with. One of these is the inclusion of civil servants in the German state pension scheme. This option, however, is prohibited by the German Constitution. Another example is the inclusion of self-employed persons. This demand cannot be met as many freelancers are unable to pay their full contributions. Inflation adjustment of pensions would mean too much of a burden for women as well as for the sick and the disabled. Redistributing money from pensioners with high benefits to pensioners with a low pension would not be conducive, either. Not only would this mean an infringement of the principle of equality, but also there are too few high pensions to redistribute.
{"title":"Reformoptionen – die keine sind","authors":"F. Ruland","doi":"10.2478/wd-2024-0031","DOIUrl":"https://doi.org/10.2478/wd-2024-0031","url":null,"abstract":"\u0000 In the German pension debate, reform options are repeatedly proposed that are doomed to failure right from the start as they cannot be legally implemented to begin with. One of these is the inclusion of civil servants in the German state pension scheme. This option, however, is prohibited by the German Constitution. Another example is the inclusion of self-employed persons. This demand cannot be met as many freelancers are unable to pay their full contributions. Inflation adjustment of pensions would mean too much of a burden for women as well as for the sick and the disabled. Redistributing money from pensioners with high benefits to pensioners with a low pension would not be conducive, either. Not only would this mean an infringement of the principle of equality, but also there are too few high pensions to redistribute.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"35 24","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140465057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Women’s representation on corporate boards of German companies increased again in 2023. In the largest 200 firms, 18 % of executive board members and 32 % of supervisory board members were women. However, in most companies, there is at most one woman on the executive board and the share of women among CEOs has decreased in many places. Companies, policymakers and other stakeholders must make greater efforts to achieve parity. An analysis of IAB data shows that a higher share of women as managers in establishments decreases the gender pay gap among subordinates, however, only if the share at the highest management level exceeds one-third.
{"title":"Fortschritte bei Frauen in Führungspositionen – doch weitere Anstrengungen nötig","authors":"Virginia Sondergeld","doi":"10.2478/wd-2024-0038","DOIUrl":"https://doi.org/10.2478/wd-2024-0038","url":null,"abstract":"\u0000 Women’s representation on corporate boards of German companies increased again in 2023. In the largest 200 firms, 18 % of executive board members and 32 % of supervisory board members were women. However, in most companies, there is at most one woman on the executive board and the share of women among CEOs has decreased in many places. Companies, policymakers and other stakeholders must make greater efforts to achieve parity. An analysis of IAB data shows that a higher share of women as managers in establishments decreases the gender pay gap among subordinates, however, only if the share at the highest management level exceeds one-third.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"91 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140465192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Wärmeplanungsgesetz: Keine Technologiealternativen","authors":"Thomas M. Treptow","doi":"10.2478/wd-2024-0022","DOIUrl":"https://doi.org/10.2478/wd-2024-0022","url":null,"abstract":"","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"205 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140462874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Martin Werding, Veronika Püschel, Benedikt Runschke, Milena Schwarz
Current plans to permanently fix the level of benefits provided by the German Statutory Pension Scheme are at odds with the reality of demographic ageing and the requirements for sustainable pension policies. Instead, the causes of the ageing process ought to be addressed through poten-tially unpopular reforms. Linking the statutory retirement age to further life expectancy and building up supplementary funded pensions are core elements of a far-sighted reform that could stabilise the German system of old-age provision in the long run. In the short run, increasing con-tribution rates and reducing the benefit level are inevitable. This should be communicated very clearly.
{"title":"Realitäten anerkennen, Rente zukunftsfähig gestalten","authors":"Martin Werding, Veronika Püschel, Benedikt Runschke, Milena Schwarz","doi":"10.2478/wd-2024-0027","DOIUrl":"https://doi.org/10.2478/wd-2024-0027","url":null,"abstract":"\u0000 Current plans to permanently fix the level of benefits provided by the German Statutory Pension Scheme are at odds with the reality of demographic ageing and the requirements for sustainable pension policies. Instead, the causes of the ageing process ought to be addressed through poten-tially unpopular reforms. Linking the statutory retirement age to further life expectancy and building up supplementary funded pensions are core elements of a far-sighted reform that could stabilise the German system of old-age provision in the long run. In the short run, increasing con-tribution rates and reducing the benefit level are inevitable. This should be communicated very clearly.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"227 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140468693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kim Clausing, Peter Cramton, Axel Ockenfels, C. Wolfram
{"title":"COP28: Strategische Klimakooperation","authors":"Kim Clausing, Peter Cramton, Axel Ockenfels, C. Wolfram","doi":"10.2478/wd-2023-0217","DOIUrl":"https://doi.org/10.2478/wd-2023-0217","url":null,"abstract":"","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"21 6","pages":"796 - 796"},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139015577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Germany wants to achieve carbon neutrality by 2045, which requires a substantial acceleration in emission reduction. The OECD suggests six levers for a successful sustainability transformation. More comprehensive and coherent greenhouse gas pricing, involving a phase out of environmentally harmful subsidies would set better incentives to switch consumption, production and innovation to climatefriendlier products and technologies. Direct revenue refunds to households would avoid overburdening lowerincome groups. Furthermore, there are a number of costly and poorly targeted subsidies for the deployment of renewables that can be reduced gradually. This would make room to offer more support for expediting development of green energy technologies and infrastructure. Workers in energyintensive industries will need support to retrain and potentially move to other industries or places.
{"title":"Sechs Ansatzpunkte für eine nachhaltige und sozialverträgliche grüne Transformation","authors":"N. Brandt, Robert Grundke, Zeev Krill","doi":"10.2478/wd-2023-0227","DOIUrl":"https://doi.org/10.2478/wd-2023-0227","url":null,"abstract":"Abstract Germany wants to achieve carbon neutrality by 2045, which requires a substantial acceleration in emission reduction. The OECD suggests six levers for a successful sustainability transformation. More comprehensive and coherent greenhouse gas pricing, involving a phase out of environmentally harmful subsidies would set better incentives to switch consumption, production and innovation to climatefriendlier products and technologies. Direct revenue refunds to households would avoid overburdening lowerincome groups. Furthermore, there are a number of costly and poorly targeted subsidies for the deployment of renewables that can be reduced gradually. This would make room to offer more support for expediting development of green energy technologies and infrastructure. Workers in energyintensive industries will need support to retrain and potentially move to other industries or places.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"277 3","pages":"827 - 831"},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139021754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The introduction of a digital euro has been in discussion in the eurozone for some time. The European Central Bank’s investigation phase started in October 2021 and entered a preparatory phase in October 2023. Digital central bank money is already being used in other countries. The introduction of a digital euro raises many questions that affect households and companies, commercial banks and the central bank. Among other things, the following questions arise: Why do we need a digital central bank currency today? What requirements must an additional form of money issued by a central bank fulfil? What are the risks and opportunities associated with the digital euro?
{"title":"Wo liegen die Vor- und Nachteile einer digitalen Zentralbankwährung?","authors":"","doi":"10.2478/wd-2023-0221","DOIUrl":"https://doi.org/10.2478/wd-2023-0221","url":null,"abstract":"\u0000 The introduction of a digital euro has been in discussion in the eurozone for some time. The European Central Bank’s investigation phase started in October 2021 and entered a preparatory phase in October 2023. Digital central bank money is already being used in other countries. The introduction of a digital euro raises many questions that affect households and companies, commercial banks and the central bank. Among other things, the following questions arise: Why do we need a digital central bank currency today? What requirements must an additional form of money issued by a central bank fulfil? What are the risks and opportunities associated with the digital euro?","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"464 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139018236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The ECB has embarked on an uncertain path with the digital euro project. It is pursuing a strategy that is unclear about what problems it is trying to solve and what specific goals it is trying to achieve. The ECB has not yet been able to diagnose a clear market failure that would justify such far-reaching government intervention. The attempt to claim the need for a “monetary anchor” instead is not very convincing. The current design is unlikely to attract much interest from citizens and thus will not contribute to greater European strategic autonomy in the payment system. This requires a solution that does not rely on system-specific balances and is therefore more convenient, while simultaneously avoiding impending risks to the financial system.
{"title":"Digitaler Euro: hohe Kosten bei nicht erkennbaren Vorteilen","authors":"P. Bofinger","doi":"10.2478/wd-2023-0224","DOIUrl":"https://doi.org/10.2478/wd-2023-0224","url":null,"abstract":"Abstract The ECB has embarked on an uncertain path with the digital euro project. It is pursuing a strategy that is unclear about what problems it is trying to solve and what specific goals it is trying to achieve. The ECB has not yet been able to diagnose a clear market failure that would justify such far-reaching government intervention. The attempt to claim the need for a “monetary anchor” instead is not very convincing. The current design is unlikely to attract much interest from citizens and thus will not contribute to greater European strategic autonomy in the payment system. This requires a solution that does not rely on system-specific balances and is therefore more convenient, while simultaneously avoiding impending risks to the financial system.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"43 ","pages":"811 - 817"},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139026023","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The introduction of a digital currency is part of the continuous evolution of the financial system, which has always been driven by technological innovations. For the first time in many years, Western central banks are exposed to potential currency competition. But a digital euro also has the potential to affect the two-tier structure of the grown financial system. The ECB should not engage in an interest rate competition with commercial banks and the digital currency should remain non-interest-bearing. Instead of imposing holding limits, notice periods could also be used to reduce the risk of bank runs. The ECB should limit itself and implement a hybrid digital central bank currency.
{"title":"Der digitale Euro aus einer historischen Perspektive","authors":"Jan Greitens","doi":"10.2478/wd-2023-0223","DOIUrl":"https://doi.org/10.2478/wd-2023-0223","url":null,"abstract":"Abstract The introduction of a digital currency is part of the continuous evolution of the financial system, which has always been driven by technological innovations. For the first time in many years, Western central banks are exposed to potential currency competition. But a digital euro also has the potential to affect the two-tier structure of the grown financial system. The ECB should not engage in an interest rate competition with commercial banks and the digital currency should remain non-interest-bearing. Instead of imposing holding limits, notice periods could also be used to reduce the risk of bank runs. The ECB should limit itself and implement a hybrid digital central bank currency.","PeriodicalId":35890,"journal":{"name":"Wirtschaftsdienst","volume":"432 ","pages":"807 - 810"},"PeriodicalIF":0.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139013778","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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