Advanced Search
MyIDEAS: Login to save this paper or follow this series

El futuro de las pensiones en España: Perspectivas y lecciones


Author Info

  • J. Ignacio Conde-Rui
  • Javier Alonso


As European population is becoming older, the financial foundations of Europe’s state-pension systems are beginning to crumble. European governments must face the unpalatable truth that their current pensions schemes are not sustainable, and provide all the required information to voters so they can take their own decisions and accept changes. The first part of the paper collects in a comprehensive way, Spanish pensions expenditure future evolution estimated by different studies. All studies agree that by 2040, Spanish government overall unfounded pensions liabilities will be well above rational levels, if nothing is done before then; but differ on the figure of the deficit. Differences in the methodology used to estimate the generosity of the system (measured as the average pension?average productivity ratio) account for this discrepancy. The second part of the paper analyses how productivity gains are transferred to the pensions and to the average pension?average productivity ratio, in particular. For this purpose, two models have been used: i) a representative agent model (Alonso and Herce (2003)) and ii) an heterogeneous agents model (Jimeno 2002b). The first model examines the effect over the generosity of the system between price indexation (or the policy recommended by the Pacto de Toledo) and wage indexation. The second model completes the analysis considering the existence of a maximum pension fixed exogenously by law.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL:
Download Restriction: no

Bibliographic Info

Paper provided by FEDEA in its series Working Papers with number 2004-03.

as in new window
Date of creation:
Date of revision:
Handle: RePEc:fda:fdaddt:2004-03

Contact details of provider:
Web page:

Related research



No references listed on IDEAS
You can help add them by filling out this form.


Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. José A. Herce, . "Could this ever happen in Spain? Economic and policy aspects of a SARS-like episode," Working Papers 2004-09, FEDEA.
  2. Javier Alonso Meseguer & J. Ignacio Conde-Ruiz, 2007. "Reforma de las pensiones: la experiencia internacional," Working Papers 2007-18, FEDEA.


This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:fda:fdaddt:2004-03. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carmen Arias).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.