El efecto del desempleo de la Gran Recesión en los pensionistas españoles

  1. Arestis, Philip
  2. Peinado, Patricia 1
  3. Serrano, Felipe
  1. 1    
Revue:
International Review of Economic Policy: Revista Internacional de Política Económica

ISSN: 2695-7035

Année de publication: 2020

Volumen: 2

Número: 1

Pages: 87-102

Type: Article

DOI: 10.7203/IREP.2.1.17743 DIALNET GOOGLE SCHOLAR lock_openAccès ouvert editor

D'autres publications dans: International Review of Economic Policy: Revista Internacional de Política Económica

Objetivos de desarrollo sostenible

Résumé

One of the main impacts of the Great Recession has been the increase in the rate of unemployment in Spain. Unemployment has a negative impact on the wages of workers, which, in those pension systems where pensions are computed according to wages, eventually affect pension benefits. In this contribution we estimate the impact of these detrimental effects on Spain’s pensioners’ welfare. According to our estimates the average pensioner is expected to lose the equivalent to 18 monthly payments of the initial pension entitlement. Additionally, the poverty risk faced by pensioners is estimated to increase between 10.6 and 24.6 per cent due to the effect of the Great Recession.

Références bibliographiques

  • Argento,R., Bryant,V.L.,and Sabelhaus, J.(2015).Early Withdrawals from RetirementAccounts During the Great Recession. Contemporary Economic Policy,33(1), 1-16.
  • Baltagi, B.H.and Blien,U.(1998).The German Wage Curve: Evidence from the IAB Employment Sample, Economics Letters, 61(2), 135-142.
  • Baltagi,B.H., Blien,U.,andWolf,K.(2000).The East German Wage Curve 1993-1998. Economics Letters,69(1), 25-31.
  • Baltagi,B.H., Blien,U.and Wolf,K.(2012).A Dynamic Spatial Panel Data Approach to the German Wage Curve. Economic Modelling,29(1), 12-21.
  • Blanchflower, D.G., and Oswald, A. J.(1995). An Introduction to the Wage Curve. Journal of Economic Perspectives,9, 153-167.
  • Blanchflower, D.G.,and Oswald ,A.J.(1990). The Wage Curve. Scandinavian Journal of Economics,92, 215-235.
  • Blanchflower, D.G.,and Oswald,A.J.(1995).International Wage Curves. In R. Freeman and L. Katz (eds),Differences and Changesin Wage Structures. The University of Chicago Press. NBERComparative Labor Market Series.
  • Blanchflower,D.G.,and Oswald, A. J. (2005).The Wage Curve Reloaded. NBER Working PaperSeries, Vol. w11338. Available at SSRN: http://ssrn.com/abstract=723307.
  • Blanchflower,D.G.,andOswald,A.J.(1994).The Wage Curve. Cambridge (Mass.): MIT Press.
  • Bosworth,B.(2012).Economic Consequences of the Great Recession: Evidence from thePanel Study of Income Dynamics. Center for Retirement Research at Boston College. Working Paper2012-4.
  • Butrica,B., Johnson,R.W.,and Smith,K. E.(2011b).How will the Great Recession Affect Future Retirement Incomes? Washington, DC: The Urban Institute.Program on Retirement Policy 30.
  • Butrica,B., Johnson,R.W.,and Smith,K.E.(2011a).The Potential Impact of the Great Recession on Future Retirement Incomes.Washington, DC: The Urban Institute. Working Paper 2011-9
  • Butrica,B., Smith,K.,and Steuerle,C.(2006).Working for a Good Retirement. Center forRetirement Research at Boston College, Working Paper 8.
  • Card,D.(1995). The Wage Curve: A Review. Journal of Economic Literature,33, 285-299.
  • Dang,T.T., Immervoll,H., Mantovani,D., Orsini,K.,and Sutherland,H.(2006).An Age Perspective on Economic Well-being and Social Protection in Nine OECD Countries. EUROMOD, Working Paper EM3/06. Institute for Social and Economic Research.
  • Dushi,I., Iams,H.M., and Tamborini,C.R.(2013).Contribution Dynamics in Defined Contribution Pension Plans during the Great Recession of 2007-2009. Social Security Bulletin 85.
  • Engelhardt,G.V.,and Gruber,J.(2004).Social Security and the Evolution of Elderly Poverty. NBER Working Paper No. 10466. Cambridge, MA: National Bureau of Economic Research
  • Fichtner,J., Phillips,J. W.R.,and Smith,B. (2012).Retirement Behavior and the Global Financial Crisis. In:R. Maurer, O.S. Mitchell, and M. Warshawsky (eds.),Reshaping Retirement Security: Lessons from the Global Financial Crisis. Oxford: Oxford University Press.
  • Gonand, F.,and Legros,F.(2009).Pension Reforms in France: Impact on Growth and Intergenerational Effects. The Geneva Papers, 34, 639–659.
  • Hurd,M.,and Rohwedder,S.(2012).Effects of the Economic Crisis on the Older Population: How Expectations, Consumption, Bequests and Retirement by the Older Population Responded to Market Shocks. In.R. Maurer, O.S. Mitchell, and M. Warshawsky (eds.),Reshaping Retirement Security: Lessons from the Global Financial Crisis. Oxford: Oxford University Press.
  • Johnson,R.W., Smith,K.E.,and Haaga, O.(2013).How Did the Great Recession Affect social security Claiming? Brief 37. Urban Institute.
  • Klein,J.P.,and Moeschberger,M.L.(2003).Survival Analysis: Techniques for Censored and Truncated Data. New York: Springer.
  • Lachance, M.(2008).Pension Reductions: Can Welfare be Preserved by Delaying Retirement?Journal of Pensions, Economics and Finance, 7(2), 157–177.
  • Maurer,R., Mitchell,O.S., and Warshawsky,M.(2011).Retirement Security and the Financial and Economic Crisis: An Overview. Pension Research Council Working Paper 2011-06.
  • Montuenga,V., Garcia,I.,and Fernandez, M.(2003).Wage Flexibility: Evidence from Five EU Countries Based on the Wage Curve. Economics Letters, 78(2),169-74.
  • Munnell, A.H.,and Rutledge,M.S.(2013).The Effects of the Great Recession on the Retirement Security of Older Workers. National Poverty Center Working Paper Series 13-03. Center for Retirement Research at Boston College.
  • Nelson, K.(2004).Mechanisms of Poverty Alleviation: Anti-poverty Effects of Non-Means-Tested and Means-Tested Benefits in Five Welfare States. Journal of European Social Policy, 14(4), 371–390.
  • Peinado,P.(2014).A Dynamic Gender Analysis of Spain's Pension Reforms of 2011. Feminist Economics,20(3), 163-190.
  • Peinado,P.,and Serrano,F.(2011).A Dynamic Analysis of the Effect of Social Security Reform on Spanish Widow Pensioners. Panoeconomicus,5(Special Issue),759-771.
  • Peinado,P.,and Serrano,F.(2014).Fiscal Crisis, Social Security Reform and Vulnerable Population. Panoeconomicus,1(Special Issue), 129-143.
  • Peinado,P.,and Serrano,F.(2017).Unemployment, Wages and Pensions. International Review of Applied Economics, 31(5), 670-680.
  • Peinado,P.,and Serrano,F.(2012).A Dynamic Analysis of the Effects on Pensioners’Welfare of Social Security Reforms. Pension Economics and Finance,11(1), 71-87.
  • Pfau,W. D.(2006).Comparing the Impact of SocialSecurity Benefit Reductions on the IncomeDistribution of the Elderly. National Tax Journal, LVIV(2), 195–210.
  • Potrafke,N.(2012).Unemployment, Human Capital,Depreciation and Pension Benefits: An Empirical Evaluation of German Data. Journal of Pension Economics and Finance,11(2), 223-241.
  • Sainsbury, D.,and Morissens,A.(2002).Poverty in Europe in the Mid-1990s: The Effectivenessof Means-Tested Benefits. Journal of European Social Policy, 12(4), 307–327.
  • Sanz de Galdeano,A.,and Turunnen,J.(2005).Real Wages and Local Unemployment in the Euro Area. ECB Working Paper Series No. 471.
  • Sutherland,H., Hancock,R., Hills,J.,and Zantomio,F.(2008).Keeping Up or Falling Behind?The Impact of Benefit and Tax Uprating on Incomes and Poverty. Fiscal Studies, 29(4),467–498
La source de données: Dialnet