Evaluating Spanish pension expenditure under alternativa reform scenario
AbstractIn this paper we evaluate the quantitative impact that a number of alternative reform scenarios may have on the total expenditure for public pensions in Spain. Our quantitative findings can be summarized in two sentences. For all the reforms considered, the financial impact of the mechanical effect (change in benefits) is order of magnitudes larger than the behavioral impact or change in behavior. For the two Spanish reforms, we find once again that their effect on the outstanding liability of the Spanish Social Security System is essentially negligible: neither the mechanical nor the behavioral effects amount to much for the 1997 reform, and amount to very little for the 2002 amendment.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 652.
Date of creation: Nov 2002
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Web page: http://www.econ.upf.edu/
Social security; reform; Spain; option value;
Other versions of this item:
- Michele Boldrin & Sergi Jimenez-Martin, 2007. "Evaluating Spanish Pension Expenditure under Alternative Reform Scenarios," NBER Chapters, in: Social Security Programs and Retirement around the World: Fiscal Implications of Reform, pages 351-412 National Bureau of Economic Research, Inc.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
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