February 2017

04Feb

An Evaluation of the Life Cycle Effects of Minimum Pensions on Retirement Behavior

By Sergi Jiménez-Martín & Alfonso R. Sánchez Martín In this paper we explore the effects of the minimum pension program on welfare and retirement in Spain. This is done with a stylized life cycle model which provides a convenient analytical characterization of optimal behavior. We use data from the Spanish Social Security to estimate the behavioral parameters of the model and then simulate the changes induced by the minimum pension in aggregate retirement patterns. The impact is substantial: there is...

February 4, 2017
Articles, Labor Market,
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04Feb

Privatizing Pensions: The Transnational Campaign for Social Security Reform

By Mitchell A . Orenstein Most Americans know of President George W. Bush’s 2005 proposals for new pension reforms to privatize Social Security, but few are aware of a conversation that took place on September 11, 1997, between then Texas Governor Bush and José Piñera, a former Chilean Secretary of Labor and Social Security. Piñera is an internationally known advocate of private, individual pension savings accounts who led the effort to replace Chile’s social security system with individual accounts in...

February 4, 2017
Books, System Sustainability, , , ,
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