La salud financiera del sistema publico de pensiones espanol: Proyecciones de largo plazo y factores de riesgo

Abstract

In this paper we construct long-term projections of the revenues and expenditures of the Spanish public pension system under different macroeconomic scenarios and different policy options using a dynamic general equilibrium model. Our calculations suggest that there is margin for measures that will mitigate the adverse effects of the new pension actualization index, but not to return to general indexation to the CPI.