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A simple model of aggregate pension expenditure

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  • Angel de la Fuente

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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," UFAE and IAE Working Papers 871.11, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  • Handle: RePEc:aub:autbar:871.11
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    References listed on IDEAS

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    1. J. Ignacio Conde-Rui & Javier Alonso, "undated". "El futuro de las pensiones en España: Perspectivas y lecciones," Working Papers 2004-03, FEDEA.
    2. Rafael Domenech & Ángel Melguizo, 2008. "Projecting Pension Expenditures in Spain: On Uncertainty, Communication and Transparency," Working Papers 0803, International Economics Institute, University of Valencia.
    3. 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.
    4. 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, IEF, vol. 182(3), pages 75-116, September.
    5. 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.
    6. Angel de la Fuente & Rafael Doménech, 2011. "The Impact of Spanish Pension Reform on Expenditure: a Quick Estimate," Working Papers 542, Barcelona Graduate School of Economics.
    7. 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.
    8. 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.
    9. 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(01), pages 111-137, January.
    10. J. Ignacio Conde-Ruiz & Clara I. González, 2013. "Reforma de pensiones 2011 en España," Hacienda Pública Española, IEF, vol. 204(1), pages 9-44, March.
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    Cited by:

    1. 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.

    More about this item

    Keywords

    pensions; sustainability; Spain;

    JEL classification:

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

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