In this paper we present a preliminary estimate of the financial impact of the recent reform of the Spanish pension system. After updating the projections of pension expenditure constructed in de la Fuente and Domenech (2010) for the period 2008-60, we analyze the impact on this variable of...

This Paper compares the observed distribution of the stock of infrastructures across the Spanish regions with the optimal allocation derived from a planning problem in which the observed degree of ex-post redistribution is taken as given. The results suggest that Spanish public investment policy...

This Paper explores the sources of convergence in income per capita across the Spanish regions using a decomposition of this variable into employment and productivity factors and an estimate of a regional production function.

This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state of pension expenditure to changes in some key demographic and economic variables.

This paper develops a simple model that can be used to estimate the effectiveness of Cohesion expenditure relative to similar but unsubsidized projects, thereby making it possible to explicitly test an important assumption that is often implicit in estimates of the impact of Cohesion policies....