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DYPES: A Microsimulation model for the Spanish retirement pension system

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  • F. J. Fernández-Díaz
  • C. Patxot
  • G. Souto

Abstract

This paper presents the results of DyPeS, the first dynamic microsimulation model of the retirement pensions system applied to the Spanish case. The simulation of the reform approved in 2011 shows that only the delay in retirement age (from 65 to 67) would have a significant effect on pension expenditure, while other measures changing the computation of the initial pension for new retirees have a limited impact. Paradoxically, it is found that the consideration of more contribution years in the computation of the initial pension amount, despite fostering the Bismarckian nature of the system, has a positive impact on redistribution.

Suggested Citation

  • F. J. Fernández-Díaz & C. Patxot & G. Souto, 2013. "DYPES: A Microsimulation model for the Spanish retirement pension system," Working Papers 2013-06, FEDEA.
    • Handle: RePEc:fda:fdaddt:2013-06
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    References listed on IDEAS

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    2. Eklöf, Matias & Hallberg, Daniel, 2006. "Estimating retirement behavior with special early retirement offers," Working Paper Series 2006:13, Uppsala University, Department of Economics.
    3. Michele Boldrin & Sergi Jiménez-Martín & Franco Peracchi, 2004. "Micro-Modeling of Retirement Behavior in Spain," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 499-578, National Bureau of Economic Research, Inc.
    4. Maes, Marjan, 2008. "Survey of empirical research on retirement behaviour and retirement incentives," Working Papers 2008/18, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    5. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, May.
    6. Maes, Marjan, 2008. "Redistributive impact of reforming the old-age pension system in Belgium," Working Papers 2008/19, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    7. Axel Börsch-Supan & Reinhold Schnabel & Simone Kohnz & Giovanni Mastrobuoni, 2004. "Micro-Modeling of Retirement Decisions in Germany," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 285-344, National Bureau of Economic Research, Inc.
    8. Raquel Vegas & Isabel Argimón & Marta Botella & Clara I. González, 2009. "Retirement behaviour and retirement incentives in Spain," Working Papers 0913, Banco de España.
    9. José A. Herce & Javier Alonso, "undated". "Los efectos económicos de la Ley de Consolidación de la Seguridad Social. Perspectivas financieras del sistema de pensiones tras su entrada en vigor," Working Papers 98-16, FEDEA.
    10. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Meritxell Solé & Guadalupe Souto & Concepció Patxot, 2019. "Sustainability and Adequacy of the Spanish Pension System after the 2013 Reform: A Microsimulation Analysis," Hacienda Pública Española / Review of Public Economics, IEF, vol. 228(1), pages 109-150, March.
    2. Oihana Aristondo, 2018. "Poverty Decomposition in Incidence, Intensity and Inequality. A Review," Hacienda Pública Española / Review of Public Economics, IEF, vol. 225(2), pages 109-130, June.
    3. Manuel García & Juan M. Nave, 2018. "Impacto en las prestaciones de jubilación de la reforma del sistema público de pensiones español," Hacienda Pública Española / Review of Public Economics, IEF, vol. 224(1), pages 113-137, March.
    4. Concepció Patxot & Meritxell Solé & Guadalupe Souto & Martin Spielauer, 2018. "The Impact of the Retirement Decision and Demographics on Pension Sustainability: A Dynamic Microsimulation Analysis," International Journal of Microsimulation, International Microsimulation Association, vol. 11(2), pages 84-108.

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