In a world with limited PAYGO financing possibilities this paper explores whether older Spanish individuals have the health capacity to work longer. For that purpose we use Milligan-Wise and Cutler-Meara Cutler-Meara- Richards-Shubik simulation methods. Our results suggest that Spanish workers have significant additional capacities to extend their working careers.

This chapter is no longer available for free download, since the book has been published. To obtain a copy, you must buy the book. The paper is also forthcoming in Health Economics.