A Simple Model of Aggregate Pension Expenditure

• Autores: Ángel de la Fuente Moreno
• Localización: Hacienda Pública Española / Review of Public Economics, ISSN 0210-1173, Nº 212, 2015, págs. 13-50
• Idioma: inglés
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• Resumen

  • This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state response of pension expenditure to changes in some key demographic and economic variables, in the characteristics of the average pensioner an d in the parameters that describe how pensions are calculated in Spain as a function of workers� Socia l Secu rity contribution histories.