Paper #939

Title:

Assessing the wellbeing of the Spanish elderly

Authors:

Michele Boldrin and Sergi Jiménez-Martín

Date:

February 2006

Abstract:

In this paper we use a variety of data sources, both micro and macro, time series, cross section, and panel data to provide an empirical evaluation of the current level of economic wellbeing of the Spanish elderly, and of its determinants. We focus, in particular on the role played by the pension system and its generosity in terms of minimum pension supplements and non-contributive pensions. In an IV context, we find that actual Social Security benefits contribute substantially to explain income and consumption poverty levels and trends of low income and consumption percentiles. Thus we offer support to previous evidence for Spain emphasizing the role of minimum benefit policies.

Keywords:

Welfare State, Social Security, Retirement, Income Inequality, Poverty

JEL codes:

I3, H5, J14, J26

Area of Research:

Labour, Public, Development and Health Economics / Statistics, Econometrics and Quantitative Methods

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