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

Published online by Cambridge University Press:  19 December 2018

Paulo Reis Mourao Open the ORCID record for Paulo Reis Mourao [Opens in a new window]  and
Cilina Vilela
Paulo Reis Mourao*
Affiliation:
Department of Economics & NIPE, Economics & Management School, University of Minho, 4700Braga, Portugal
Cilina Vilela
Affiliation:
UTAD, Vila Real, Portugal
*
*Corresponding author. E-mail: paulom@eeg.uminho.pt
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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.

Keywords

Keynesian multiplierpensionsPortuguese municipalitiesspatial analysisH55H75C21
Type
Article
Information
Journal of Pension Economics & Finance , Volume 19 , Issue 2 , April 2020 , pp. 247 - 261
Copyright
Copyright © Cambridge University Press 2018

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