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SUMMARY:The Great Recession\, unemployment and pensions: the case of Spani
 sh regions - Patricia Peinado\, University of the Basque Country
DTSTART:20171122T160000Z
DTEND:20171122T170000Z
UID:TALK83371@talks.cam.ac.uk
CONTACT:Ingrid Cizaite
DESCRIPTION:The Spanish Pension system is a PAYG social security system in
  which the different cohorts of pensioners are entitled a pension that is 
 supported by the contributions of current working population. Before the G
 reat Recession\, the main concern for policy makers had been the threat of
  the ageing population process. At that time reforms were design to guaran
 tee the sustainability of pension systems.  However\, after the Great Rece
 ssion the problem of unemployment has become a major concern. Unemployment
  situations imply lower amount of contributions and\, consequently\, lower
  revenues to face the payment of the existing pensions. Reform proposals\,
  however\, do not take into account the existence of another relationship:
  the relationship between unemployment and pensions. Peinado and Serrano (
 2017) show that there is a negative relationship between these two variabl
 es and\, accordingly\, future pensioners are likely to be entitled lower p
 ension benefits. Under these circumstances\, attention should be paid\, no
 t only to the lower revenues implied for the system\, but also to the detr
 imental effects on the welfare level of future cohorts of pensioners that 
 the higher rates of unemployment registered may have if reforms are not im
 plemented. Arestis and Peinado (forthcoming) follow this line of research 
 to quantify the effects on poverty dynamics for retirees. Additionally\, t
 he rates of unemployment have an interesting regional dimension that worth
  being addressed. Pensioners from regions with exceptionally high rates of
  unemployment are expected to suffer more the detrimental effects of the G
 reat Recession than retirees from the less affected regions. Policy makers
  should then take into account not only the effect of unemployment on pens
 ions but also the regional dimension of the phenomena to design the differ
 ent reform proposals. \n\nPatricia Peinado is Assistant Professor at the U
 niversity of the Basque Country\, Visiting Academic at the Department of L
 and Economy and VCRA at Wolfson College\, University of Cambridge. She has
  made several contributions in journals such as the Journal of Pension Eco
 nomics and Finance\, Feminist Economics\, Journal of Panoeconomicus on the
  effects of social security reforms on the welfare level of retired popula
 tion. Recently she has concentrated on estimating the relationship between
  the rate of unemployment and pensions and the effects that\, through this
  relationship\, the Great Recession may have on future cohorts of pensione
 rs in Spain. A contribution in this line has been recently published in th
 e International Review of Applied Economics. Currently she is working on t
 he regional dimension of the effects of the Great Recession on Spanish pen
 sioners. Additionally\, she is highly concerned with the introduction of i
 nnovative techniques to teach Macroeconomics to undergraduates. Granted by
  the University of the Basque Country to take part in an innovative teachi
 ng program she has recently published the teaching material and main resul
 ts of the Problem Based Learning (PBL) experience to teach Macroeconomics 
 to undergraduates in IKD-baliabideak.
LOCATION:Mill Lane Lecture Room 1
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