During the Asian crisis, intermediate exchange rate regimes vanished. It has been argued that those regimes were no longer useful and only the extremes remained valid. The paper analyses three foreign exchange regimes: Argentina (pegged), Chile (band) and Mexico (float). The Argentinean currency...

The Chilean Electronic Market for Annuities was created in 2004 in order to correct several malfunctions of the market for annuities. The Chilean Pension System is composed of two phases. On the accumulation phase, savings are collected and managed by asset managers. The payout phase consists in...

A diferencia de un sistema de reparto donde se evalúa permanentemente la sustentabilidad financiera de éste, en un sistema de capitalización la atención está centrada en su capacidad de pagar beneficios adecuados. Este artículo presenta proyecciones de pensiones para el caso de Chile y un...