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Incentivos y desigualdad en el sistema español de pensiones contributivas de jubilación

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Juan F. Jimeno

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Abstract

This paper contains a quantitative analysis of the intra-generational distributive effects of old-age contributive pensions in the Spanish case. This analysis is carried out from virtual labour market histories simulated from observed transition rates among non-participation unemployment and employment and wage profiles. Given labour market histories, the distributions of pensions benefits which would prevail under alternative pension systems are computed. Moreover, some conjectures are put forward on the likely effects of each pension system on labour supply and, hence, on labour market histories and the resulting distributions of pensions taken into account these effects are also computed. The main conclusion from this exercise is that the current Spanish system of old-age contributive pensions, a defined-benefit system under which pension benefits depend of contributions during the last 15 working years, yields a higher degree of intra-generational inequality that other systems which would take into account longer periods to compute pension benefits or that defined-contribution systems.

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Paper provided by FEDEA in its series Working Papers with number 2002-13.

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Handle: RePEc:fda:fdaddt:2002-13

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  1. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social Security in Theory and Practice (II): Efficiency Theories, Narrative Theories, and Implications for Reform," NBER Working Papers 7119, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Julia Lynn Coronado & Don Fullerton & Thomas Glass, 2000. "The Progressivity of Social Security," NBER Working Papers 7520, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Martin Feldstein & Jeffrey B. Liebman, 2001. "Social Security," NBER Working Papers 8451, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
    • Feldstein, Martin & Liebman, Jeffrey B., 2002. "Social security," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 32, pages 2245-2324 Elsevier. [Downloadable!] (restricted)
  4. Modigliani, Franco. & Ceprini, Marialuisa E. A. & Muralidhar, Arun Sundarram., 1999. "An MIT solution to the social security crisis," Working papers WP 4051-99., Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
  5. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social Security in Theory and Practice (I): Facts and Political Theories," NBER Working Papers 7118, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Rebecca M. Blank, 1999. "When Can Public Policy Makers Rely on Private Markets? The Effective Provision of Social Services," NBER Working Papers 7099, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March. [Downloadable!]
  8. David Miles & Allan Timmermann, 1999. "Risk sharing and transition costs in the reform of pension systems in Europe," Economic Policy, CEPR, CES, MSH, vol. 14(29), pages 251-286, October. [Downloadable!] (restricted)
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  10. Michele Boldrin & Juan J. Dolado & Juan F. Jimeno & Franco Peracchi, . "The future of pension systems in Europe. A reappraisal," Working Papers 99-08, FEDEA. [Downloadable!]
  11. Edward P. Lazear, 1983. "Incentive Effects of Pensions," NBER Working Papers 1126, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Martin Feldstein & Jeffrey Liebman, 2000. "The Distributional Effects of an Investment-Based Social Security System," NBER Working Papers 7492, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. Diamond, Peter A, 1996. "Proposals to Restructure Social Security," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 67-88, Summer. [Downloadable!] (restricted)
  14. Deborah Roseveare & Willi Leibfritz & Douglas Fore & Eckhard Wurzel, 1996. "Ageing Populations, Pension Systems and Government Budgets: Simulations for 20 OECD Countries," OECD Economics Department Working Papers 168, OECD, Economics Department. [Downloadable!]
  15. Thomas Cooley & Jorge Soares, 1999. "Privatizing Social Security," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(3), pages 731-755, July. [Downloadable!] (restricted)
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