Sánchez-Martín, Alfonso R; Marcos, Virginia Sánchez - Departamento de Economía, Universidad Pablo de Olavide - 2008
Recent demographic changes have spurred pension reforms aimed at restoring the financial sustainability of PAYG systems. In Spain, the most significant reforms were undertaken in 1997 and in 2002, entailing an increase in the length of the averaging period in the pension formula, an increase in...