The objective of this paper is to understand the impact of immigration on the Spanish pension system during the next fifty years by building a quantitative theoretical framework. In order to carry out the exercise of projection of revenues and expenditures in the Spanish pension system, we have...

Aging is an unstoppable process and it remains a major challenge for the sustainability of the PAYG pension system in most developed countries, including in Spain. Many countries need to introduce reforms of their pension systems in order to control their expenditure, and in some cases this has...

The aim of this paper is to evaluate the impact of the Spanish pension reform enacted in 2011. We use an accounting model with heterogeneous agents and overlapping generations in order to project revenues and expenditures of the pension system for the next four decades. Specifically, we analyze...

In this paper we analyze the role that Social Security wealth and incentives play in the transition to retirement in Spain. We use the labour records and other relevant information contained in a newly released database ( Muestra Continua de Vidas Laborales 2006,) to construct incentive measures...

In this paper we analyse the role that Social Security wealth and incentives play in the transition to retirement in Spain. We use the labour records and other relevant information contained in a newly released database [Muestra Continua de Vidas Laborales (2006)] to construct incentive measures...