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age, reducing the replacement rate, or introducing a sustainability factor linking pension to life expectancy. The aim of … Spain but that could have a significant impact if it were fully implemented. This reform, called ‘silent reform’ because it … is imperceptible to citizens in its early stages, basically consists in increasing maximum pensions in line with …
Persistent link: https://www.econbiz.de/10011657538
welfare. It complements the two classical systems of public insurance: pay-as-you-go (PAYG) pensions and unemployment … the new steady state, if we model Spain as an open economy. As a closed economy, there are important general equilibrium …
Persistent link: https://www.econbiz.de/10013459929
This article examines the potential risks on consumption behavior of lumpsum payments. As a pension, lump-sum payments could be consumed too fast and generate an increase of poverty rates. We experimentally investigate consumption behavior in an inter-temporal decision-making setting. Subjects...
Persistent link: https://www.econbiz.de/10010223420
We examine the incidence on household consumption of the introduction of tax incentives to retirement saving. First, using data from a panel of tax returns we document that most contributions to pension funds are by older/high-income individuals. Then we use panel data from a consumption survey...
Persistent link: https://www.econbiz.de/10012179180
This paper studies the representativeness of the Continuous Sample of Working Lives (CSWL), a set of anonymized microdata containing information on individuals from Spanish Social Security records. We examine several CSWL waves (2005–2013) and show that it is not representative for the...
Persistent link: https://www.econbiz.de/10011657682
(ESCB). The identification strategy consists of a narrative analysis of policy actions in old age pensions reported in the … ESCB dataset. I find that increases in old age pensions have a positive impact on aggregate expenditure components and …
Persistent link: https://www.econbiz.de/10014281318
This paper presents evidence of the effect of the recent phases of the business cycle in Spain and United States …
Persistent link: https://www.econbiz.de/10011417948
The Spanish debt consolidation between 1996 and 2007 represents, by its size and duration, an impressive case among the European Union countries. This paper aims at characterizing the Spanish debt consolidation process in order to assess its effects on economic inequality and welfare. For that...
Persistent link: https://www.econbiz.de/10011417950
Using different econometric models, Diebold and Li (J Econom 130:337-364, 2006) addressed the practical problem of forecasting the yield curve by predicting the factors level, slope and curvature in the Nelson-Siegel framework. This paper has two main aims: on the one hand, to investigate the...
Persistent link: https://www.econbiz.de/10011311742
About half of all employees in Spain are on a daytime split work schedule, i.e. they typically work for 5 h in the …
Persistent link: https://www.econbiz.de/10011311747