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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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    File URL: http://documentos.fedea.net/pubs/dt/2013/dt-2013-06.pdf
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    References listed on IDEAS

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    1. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters,in: Schooling, Experience, and Earnings, pages 1-4 National Bureau of Economic Research, Inc.
    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. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    5. 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.
    6. 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.
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    Cited by:

    1. Meritxell Solé & Guadalupe Souto & Concepció Patxot, 2018. "Sustainability and adequacy of the Spanish pension system after the 2013 reform: a microsimulation analysis," UB Economics Working Papers 2018/372, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.

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