0000000000213937
AUTHOR
Robert Meneu
Adjustment mechanisms and intergenerational actuarial neutrality in pension reforms
In the context of the reform of defined benefit pension systems under population ageing, we focus on the introduction of automatic adjustment mechanisms linked to life expectancy. Our goal is to establish a relationship between changes in the key parameters of the pension system and changes in life expectancy, applying the principle of intergenerational actuarial neutrality. For a defined benefit pension scheme, we first obtain the fundamental adjustment equation and then, for particular cases, we derive different designs of automatic adjustment mechanisms depending on the involved parameter. We include a numerical application only for illustrative purposes.
Demography and Economic Growth in Spain: A Time Series Analysis
In this paper, advanced time series econometric tools are employed to test the existence of relationships among demographic and macroeconomic variables in Spain along the 1960-2000 period. Annual data for the total fertility rate, infant mortality rate, per capita gross domestic product and wages are used in the empirical analysis. We first examine the bivariate Granger causality to look for short run relations. Then, a multivariate cointegration analysis is carry out, showing that two long run relationships among the variables exist with statistically significant coefficients. From these cointegration vectors, the vector error correction model is estimated to test the endogenous or exogeno…
The Sustainability Factor: How Much Do Pension Expenditures Improve in Spain?
The reform of 2013 represented a qualitative leap in the reform of the Spanish pension system. Unlike its predecessors, it introduced two automatic resetting mechanisms similar to those of other European countries. The first is the sustainability factor, scheduled to come into effect in 2019 but delayed until 2023, and its ultimate reversal cannot be ruled out. The objective of this study was to quantify the savings, or the lowest expenditure, that can be achieved in the Spanish public contributory pension system by applying it. These savings are measured in terms of cash&mdash
Feedback-based continuous improvement measures on the use of short mathematical videos in university education
The main objective of this work is to make a proposal for continuous improvement on the use of short educational videos in order to improve the teaching-learning process at Mathematics I, a university subject present in the curriculum of several social-economical degrees such as Bussiness Administration, Economics, or International Business at the Universitat de València (Spain). In order to enhance the quality of this process, it is necessary to make inquiries of the impressions that the students have about it. In this particular case, we wanted to know the perception that students had after the use of short educational videos of applied mathematics contents during the course. These vide…