Redistribution in the Spanish pension system: An approach to its life time effects
This paper computes first the internal rates of return of different population cohorts. Secondly, we study the intragenerational aspects by calculating the returns over life-time contributions for workers of different categories, grouped by earnings, gender and marital status. Under a set of assumptions on contribution rates and wage profiles -in absence of actual data on longitudinal contributions- we show the existence of significant intergenerational effects. They favour older cohorts due basically to the contribution bases applied during the 60s and 70s. Some of these effects follow a rather erratic pattern, mostly due to the changes overtime of the definition of the maximum allowable contribution. These limits play a similar crucial role for the intragenerational analysis, although in general, the social security 'deal' favours high income individuals, women and married males.
(This abstract was borrowed from another version of this item.)
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nelissen, J.H.M., 1987. "The redistributive impact of the general old age pensions act on lifetime income in the Netherlands," Other publications TiSEM c1e60227-c0d1-48c9-ae27-5, Tilburg University, School of Economics and Management.
- Anthony Pellechio & Gordon Goodfellow, 1983. "Individual Gains and Losses from Social Security before and after the 1983 Amendments," Cato Journal, Cato Journal, Cato Institute, vol. 3(2), pages 417-442, Fall.
- María Isabel Escobedo, 1991. "Un análisis empírico de los efectos finales producidos sobre el empleo industrial por el sistema de financiación de la Seguridad Social española 1975-1983," Investigaciones Economicas, Fundación SEPI, vol. 15(1), pages 169-192, January.
- Michael J. Boskin & Laurence J. Kotlikoff & Douglas J. Puffert & John B. Shoven, 1986. "Social Security: A Financial Appraisal Across and Within Generations," NBER Working Papers 1891, National Bureau of Economic Research, Inc.
- Creedy, John & Disney, Richard & Whitehouse, Edward, 1993. "The Earnings-Related State Pension, Indexation and Lifetime Redistribution in the U.K," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 39(3), pages 257-78, September.
When requesting a correction, please mention this item's handle: RePEc:fda:fdaeee:55. 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 references are entirely missing, you can add them using this form.