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‘No country for old men’? The multiplier effects of pensions in Portuguese municipalities

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  • Mourao, Paulo Reis
  • Vilela, Cilina

Abstract

One of the major findings of this paper, which studied the multiplier effects of pensions received at each Portuguese municipality since 2003, is that pensions stimulate the incomes of municipalities. We studied these effects also considering the spillovers from/to the surrounding areas. After discussing several models of spatial analysis, we chose the Dynamic Spatial Durbin Model. Our results were obtained after considering a proper set of control variables.

Suggested Citation

  • Mourao, Paulo Reis & Vilela, Cilina, 2020. "‘No country for old men’? The multiplier effects of pensions in Portuguese municipalities," Journal of Pension Economics and Finance, Cambridge University Press, vol. 19(2), pages 247-261, April.
    • Handle: RePEc:cup:jpenef:v:19:y:2020:i:2:p:247-261_6
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    Cited by:

    1. Huan Wang & Jianyuan Huang & Qi Yang, 2019. "Assessing the Financial Sustainability of the Pension Plan in China: The Role of Fertility Policy Adjustment and Retirement Delay," Sustainability, MDPI, vol. 11(3), pages 1-20, February.

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