The paper analyzes the Mexican pension reform of December 1995. Essentially, the reform substituted a defined-benefit pay-as-you-go system with a fully funded defined contribution system based" on individual accounts with a minimum pension guarantee provided by the government. Total...

En este trabajo se evalua la sustentabilidad de la politica fiscal en Mexico de acuerdo con el comportamiento de la restriccion presupuestaria del gobierno y con el saldo de la deuda acumulada en los pasados dos decenios. Se utiliza el valor de la deuda y el analisis empirico se basa en Wilcox,...

The paper analyzes the Mexican pension reform of December 1995. Essentially, the reform substituted a defined-benefit pay-as-you-go system with a fully funded defined contribution system based" on individual accounts with a minimum pension guarantee provided by the government. Total...