The effect of pension rules on retirement monetary incentives with an application to pension reforms in Spain

In this work we theoretically disentangle the effects of pension provisions on a variety of financial incentives to retirement, trying to reconcile them with some key Spanish retirement patterns. We find that the "average" individual, who is never affected by any cap of contributions or benefits, has weak incentives to retire early and strong incentives to retire at the normal retirement age. Alternatively, individuals at the bottom of the wage distribution have strong incentives to retire as early as possible, because ot the interaction between age-related penalties and the minimun pension. Both findings perfectly accommodate the retirement hazard of medium and low earners respectively. In contrast, high earners (those that have their contributions capped) despite having strong incentives to retire at the Early Retirement Age, do not do so. This is because, for those workers, financial incentives are not a good proxy for the marginal utility from working. Finally, we analyze the reasons behind the failure of the 1997 reform in improving the sustainability of the Spanish public pension system

THE EFFECT OF PENSION RULES ON RETIREMENT MONETARY INCENTIVES WITH AN APPLICATION TO PENSION REFORMS IN SPAIN

In this work we theoretically disentangle the effects of pension provisions on a variety of financial incentives to retirement, trying to reconcile them with some key Spanish retirement patterns. We find that the “average” individual, who is never affected by any cap of contributions or benefits, has weak incentives to retire early and strong incentives to retire at the normal retirement age. Alternatively, individuals at the bottom of the wage distribution have strong incentives to retire as early as possible, because ot the interaction between age-related penalties and the minimun pension. Both findings perfectly accommodate the retirement hazard of medium and low earners respectively. In contrast, high earners (those that have their contributions capped) despite having strong incentives to retire at the Early Retirement Age, do not do so. This is because, for those workers, financial incentives are not a good proxy for the marginal utility from working. Finally, we analyze the reasons behind the failure of the 1997 reform in improving the sustainability of the Spanish public pension system.

An evaluation of the life-cycle effects of minimum pensions on retirement behavior

In this paper we explore the effects of the minimum pension program on welfare and retirement in Spain. This is done with a stylized life-cycle model which provides a convenient analytical characterization of optimal behavior. We use data from the Spanish Social Security to estimate the behavioral parameters of the model and then simulate the changes induced by the minimum pension in aggregate retirement patterns. The impact is substantial: there is threefold increase in retirement at 60 (the age of first entitlement) with respect to the economy without minimum pensions, and total early retirement (before or at 60) is almost 50% larger.Retirement, life cycle model, minimum pension, structural estimation

The effect of pension rules on retirement monetary incentives with an application to pension reforms in Spain

In this work we theoretically disentangle the effects of pension provisions on a variety of financial incentives to retirement, trying to reconcile them with some key Spanish retirement patterns. We find that the «average» individual, who is never affected by any cap of contributions or benefits, has weak incentives to retire early and strong incentives to retire at the normal retirement age. Alternatively, individuals at the bottom of the wage distribution have strong incentives to retire as early as possible, as a result of the interaction between age-related penalties and the minimum pension. Both findings perfectly accommodate the retirement hazard of medium and low earners respectively. In contrast, high earners (those that have their contributions capped) do not retire early despite having strong incentives to do so. This is because, for those workers, financial incentives are not a good proxy for the marginal utility from working. Finally, we analyze the reasons behind the failure of the 1997 reform in improving the sustainability of the Spanish public pension system.retirement, Social Security, Monetary incentives, Pension Reform, Spain

The effect of pension rules on retirement monetary incentives with an application to pension reforms in Spain.

In this work we theoretically disentangle the effects of pension provisions on a variety of financial incentives to retirement, trying to reconcile them with some key Spanish retirement patterns. We find that the "average" individual, who is never affected by any cap of contributions or benefits, has weak incentives to retire early and strong incentives to retire at the normal retirement age. Alternatively, individuals at the bottom of the wage distribution have strong incentives to retire as early as possible, because ot the interaction between age-related penalties and the minimun pension. Both findings perfectly accommodate the retirement hazard of medium and low earners respectively. In contrast, high earners (those that have their contributions capped) despite having strong incentives to retire at the Early Retirement Age, do not do so. This is because, for those workers, financial incentives are not a good proxy for the marginal utility from working. Finally, we analyze the reasons behind the failure of the 1997 reform in improving the sustainability of the Spanish public pension system.

An evaluation of the life-cycle effects of minimum pensions on retirement behaviour: Extended Version

In this paper we explore the effects of the minimum pension program on welfare and retirement in Spain. This is done with a stylized life-cycle model which provides a convenient analytical characterization of optimal behavior. We use data from the Spanish Social Security to estimate the behavioral parameters of the model and then simulate the changes induced by the minimum pension in aggregate retirement patterns. The impact is substantial: there is a threefold increase in retirement at 60 (the age of first entitlement) with respect to the economy without minimum pensions, and total early retirement (before or at 60) is almost 50% larger.Retirement, life cycle model, minimum pension, structural estimation

Unsupervised machine learning approach for building composite indicators with fuzzy metrics

[EN] This study aims at developing a new methodological approach for building composite indicators, focusingon the weight schemes through an unsupervised machine learning technique. The composite indicatorproposed is based on fuzzy metrics to capture multidimensional concepts that do not have boundaries, suchas competitiveness, development, corruption or vulnerability. This methodology is designed for formativemeasurement models using a set of indicators measured on different scales (quantitative, ordinal and binary)and it is partially compensatory. Under a benchmarking approach, the single indicators are synthesized.The optimization method applied manages to remove the overlapping information provided for the singleindicators, so that the composite indicator provides a more realistic and faithful approximation to the conceptwhich would be studied. It has been quantitatively and qualitatively validated with a set of randomizeddatabases covering extreme and usual cases.This work was supported by the project FEDER-University of Granada (B-SEJ-242.UGR20), 2021-2023: An innovative methodological approach for measuring multidimensional poverty in Andalusia (COMPOSITE). Eduardo Jimenez-Fernandez would also like to thank the support received from Universitat Jaume I under the grant E-2018-03.Jiménez Fernández, E.; Sánchez, A.; Sánchez Pérez, EA. (2022). Unsupervised machine learning approach for building composite indicators with fuzzy metrics. Expert Systems with Applications. 200:1-11. https://doi.org/10.1016/j.eswa.2022.11692711120

Retirement incentives, individual heterogeneity and labour transitions of employed and unemployed workers

In this paper we analyze the sensitivity of the labour market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement in two ways. First, by modeling the transitions between employment, unemployment and retirement in a simultaneous manner, paying special attention to the transition from unemployment to retirement (which is particularly important in Spain). Second, by considering the influence of unobserved heterogeneity in the estimation of the effect of our (carefully constructed) incentive variables. Using administrative data, we find that, when properly defined, economic incentives have a strong impact on labour market decisions in Spain. Unemployment regulations are shown to be particularly influential for retirement behaviour, along with the more traditional determinants linked to the pension system. Pension variables also have a major bearing on both workers’ reemployment decisions and on the strategic actions of employers. The quantitative impact of the incentives, however, is greatly affected by the existence of unobserved heterogeneity among workers. Its omission leads to sizable biases in the assessment of the sensitivity to economic incentives, a finding that has clear consequences for the credibility of any model-based policy analysis. We confirm the importance of this potential problem in one especially interesting instance: the reform of early retirement provisions undertaken in Spain in 2002. We use a difference-in-difference approach to measure the behavioural reaction to this change, finding a large overestimation when unobserved heterogeneity is not taken into account.Retirement, unemployment, incentives, Pension system, Unobserved, heterogeneity, Spain.

Situaciones a-didácticas en la enseñanza de las matemáticas

En este trabajo se propone abordar un problema de investigación en torno a la enseñanza de las matemáticas, el articulo presenta resultados parciales de una investigación enmarcada en la línea de la didáctica de la matemática y tiene el propósito de caracterizar la práctica pedagógica a partir de situaciones a-didácticas para el aprendizaje de las matemáticas en algunos estudiantes de educación superior. En el referente teórico se consideran aspectos como situaciones didácticas y práctica pedagógica. La investigación se lleva a cabo bajo un enfoque cualitativo-interpretativo, donde, la recolección de los datos se hace teniendo en cuenta entrevistas, grabaciones de audio y video, diarios de campo y registros de observación. Los resultados permiten contribuir al mejoramiento de la práctica de una docente a través de la caracterización y análisis de los diversos aprendizajes del profesor

Correlation between ribonucleoside-diphosphate reductase and three replication proteins in Escherichia coli

<p>Abstract</p> <p>Background</p> <p>There has long been evidence supporting the idea that RNR and the dNTP-synthesizing complex must be closely linked to the replication complex or replisome. We contributed to this body of evidence in proposing the hypothesis of the replication hyperstructure. A recently published work called this postulate into question, reporting that NrdB is evenly distributed throughout the cytoplasm. Consequently we were interested in the localization of RNR protein and its relationship with other replication proteins.</p> <p>Results</p> <p>We tagged NrdB protein with 3×FLAG epitope and detected its subcellular location by immunofluorescence microscopy. We found that this protein is located in nucleoid-associated clusters, that the number of foci correlates with the number of replication forks at any cell age, and that after the replication process ends the number of cells containing NrdB foci decreases.</p> <p>We show that the number of NrdB foci is very similar to the number of SeqA, DnaB, and DnaX foci, both in the whole culture and in different cell cycle periods. In addition, interfoci distances between NrdB and three replication proteins are similar to the distances between two replication protein foci.</p> <p>Conclusions</p> <p>NrdB is present in nucleoid-associated clusters during the replication period. These clusters disappear after replication ends. The number of these clusters is closely related to the number of replication forks and the number of three replication protein clusters in any cell cycle period. Therefore we conclude that NrdB protein, and most likely RNR protein, is closely linked to the replication proteins or replisome at the replication fork. These results clearly support the replication hyperstructure model.</p