La salud financiera del sistema público de pensiones español:

Fuente, Angel de La; García, Miguel Ángel; Sánchez, Alfonso R.

doi:10.7866/hpe-rpe.19.2.5

Cited by 3 publications

(2 citation statements)

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“…Thus, the PRI obtained in our simulations is also in line with those results obtained in other previous research papers (see, e.g., Sánchez-Martín, 2014, 2017; De la Fuente et al . 2018; Hernández de Cos, 2017) 26 .…”

Section: Resultsmentioning

confidence: 99%

“…Some previous research papers have studied the quantitative effects of these pension reforms (see, e.g., Díaz-Giménez and Díaz-Saavedra, 2017;Hernández de Cos et al 2017;Patxot et al 2017;Sánchez-Martín, 2017;De la Fuente et al 2018), and they all conclude that these reforms substantially improve the sustainability of Spanish pensions, and that they limit the tax increases that would have been necessary to finance the pension system deficits 6 . The key mechanism from the viewpoint of making headway in the sustainability of the system is the PRI, since it severely limits the growth rate of pensions, so that large reductions in the generosity of public pensions for current and future generations of retirees are expected.…”

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The fiscal and welfare consequences of the price indexation of Spanish pensions

Díaz-Saavedra

2018

Journal of Pension Economics and Finance

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We study the fiscal and welfare consequences of three options for increasing pension generosity in Spain: (i) disability and minimum pensions are fully indexed with the Consumer Price Index (CPI); (ii) minimum and lower value pensions are fully indexed with the CPI; and (iii) returning to full price indexation of all Spanish pensions. While these reforms increase pension adequacy, the tax increases needed to finance the higher pension expenditure differ significantly. Moreover, most current cohorts prefer returning to the full price indexation of all Spanish pensions, but future cohorts prefer that only disability and minimum pensions be indexed with the CPI.

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confidence: 99%

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The fiscal and welfare consequences of the price indexation of Spanish pensions

Díaz-Saavedra

2018

Journal of Pension Economics and Finance

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A Worker’s Backpack as an Alternative to PAYG Pension Systems

Díaz-Saavedra

Marimon

Sousa

2023

Journal of the European Economic Association

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Facing an ageing population and historical trends of low employment rates, pay-as-you-go (PAYG) pension systems, currently in place in several European countries, imply very large economic and welfare costs in the coming decades. In an overlapping generations economy with incomplete insurance markets and frictional labour markets, an employment fund, which can be used while unemployed or retired, can enhance production efficiency and social welfare. With an appropriate design, the sustainable Backpack employment fund (BP) can greatly outperform (measured by average social welfare in the economy) existing pay-as-you go systems and also Pareto dominate a full privatization of the pension system, as well as a standard fully funded defined contribution pension system. We show this in a calibrated model of the Spanish economy, by comparing the effect of its ageing transition under these different pension systems and by showing how a front-loaded transition, from the PAYG to the BP system can be Pareto improving, while minimizing the cost of the reform.

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Trayectorias del ahorro: el régimen pensionario mexicano

Ríos

García

Aguayo

2021

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Este trabajo tiene el objetivo de identificar trayectorias en la administración del ahorro de trabajadores mexicanos de 2012 a 2018. Se realizaron diversas trayectorias en la administración del ahorro derivado de sus salarios para el fondo de pensiones de los trabajadores mexicanos con información del periodo mencionado, utilizado el método de tipo cuantitativo con la aplicación de simulaciones con escenarios mediante cadenas de Markov. La originalidad está en la aplicación de simulaciones de Montecarlo al considerar información específica de la ENOE como; nivel de escolaridad, género, nivel de ingreso, además de la contribución al régimen formal del IMSS en el periodo de retiro. Los resultados muestran el gran nivel de impacto de las variables, como el nivel de escolaridad, que presenta un impacto mayor al monto final de retiro para el caso de los hombres.

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La salud financiera del sistema público de pensiones español:

Abstract: La salud financiera del sistema público de pensiones español: proyecciones de largo plazo y factores de riesgo*

Cited by 3 publications

References 3 publications

The fiscal and welfare consequences of the price indexation of Spanish pensions

The fiscal and welfare consequences of the price indexation of Spanish pensions

A Worker’s Backpack as an Alternative to PAYG Pension Systems

Trayectorias del ahorro: el régimen pensionario mexicano

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