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A Simple Model of Aggregate Pension Expenditure

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  • Angel de la Fuente

Abstract

This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state response of pension expenditure to changes in some key demographic and economic variables, in the characteristics of the average pensioner and in the parameters that describe how pensions are calculated in Spain as a function of workers' Social Security contribution histories.

Suggested Citation

  • Angel de la Fuente, 2011. "A Simple Model of Aggregate Pension Expenditure," Working Papers 553, Barcelona School of Economics.
    • Handle: RePEc:bge:wpaper:553
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    References listed on IDEAS

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    1. Javier Vazquez Grenno, 2010. "Spanish pension system: Population aging and immigration policy," Hacienda Pública Española / Review of Public Economics, IEF, vol. 195(4), pages 37-64, december.
    2. J. Ignacio Conde-Rui & Javier Alonso, "undated". "El futuro de las pensiones en España: Perspectivas y lecciones," Working Papers 2004-03, FEDEA.
    3. Rafael Domenech & Ángel Melguizo, 2008. "Projecting Pension Expenditures in Spain: On Uncertainty, Communication and Transparency," Working Papers 0803, International Economics Institute, University of Valencia.
    4. Javier Alonso Meseguer & José A. Herce, "undated". "Balance del sistema de pensiones y boom migratorio en España. Proyecciones del modelo MODPENS de FEDEA a 2050," Working Papers 2003-02, FEDEA.
    5. Joan Gil & Miguel Angel López García & Jorge Onrubia & Cío Patxot & Guadalupe Souto, 2007. "A projection model of the contributory pension expenditure of the spanish social security system: 2004-2050," Hacienda Pública Española / Review of Public Economics, IEF, vol. 182(3), pages 75-116, September.
    6. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    7. Angel de la Fuente & Rafael Doménech, 2011. "The Impact of Spanish Pension Reform on Expenditure: a Quick Estimate," Working Papers 542, Barcelona School of Economics.
    8. Aranzazu Crespo & Marcel Jansen, 2014. "The Role of Global Value Chains during the Crisis: Evidence from Spanish and European Firms," Working Papers 2014-09, FEDEA.
    9. Jimeno, Juan F. & Rojas, Juan A. & Puente, Sergio, 2008. "Modelling the impact of aging on social security expenditures," Economic Modelling, Elsevier, vol. 25(2), pages 201-224, March.
    10. De La Fuente, Angel & Doménech, Rafael, 2013. "The financial impact of Spanish pension reform: A quick estimate," Journal of Pension Economics and Finance, Cambridge University Press, vol. 12(1), pages 111-137, January.
    11. J. Ignacio Conde-Ruiz & Clara I. González, 2013. "Reforma de pensiones 2011 en España," Hacienda Pública Española / Review of Public Economics, IEF, vol. 204(1), pages 9-44, March.
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    Cited by:

    1. Krpan, Mira & Pavković, Ana & Galetić, Fran, 2019. "Comparison of Sustainability Indicators of Pension Systems in the New EU Member States," 7th International OFEL Conference on Governance, Management and Entrepreneurship: Embracing Diversity in Organisations (Dubrovnik, 2019), in: 7th International OFEL Conference on Governance, Management and Entrepreneurship: Embracing Diversity in Organisations. April 5th - 6th, 2019, Dubrovn, pages 470-484, Governance Research and Development Centre (CIRU), Zagreb.
    2. Angel De la Fuente & Rafael Domenech, 2011. "The impact of Spanish pension reform on expenditure: A quick estimate," Working Papers 1112, BBVA Bank, Economic Research Department.
    3. Mira Krpan & Ana Pavkovic & Berislav Zmuk, 2020. "Cluster analysis of new EU member states' pension systems," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 18(2B), pages 208-222.

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    More about this item

    Keywords

    pensions; sustainability; Spain;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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