Previous empirical literature has found a sharp decline in consumption during the first years of retirement implying that individuals do not save enough for their retirement. This phenomenon has been called the retirement consumption puzzle. In contrast to some of the previous studies, the...

Este estudio compara las diferencias de cobertura en los sistemas de pensiones de capitalizacion individual en tres pa’ses de Latinoamerica. En Chile, Colombia y Mexico, aun cuando cada uno de ellos tiene sistema de pensiones de contribuciones definidas, hay diferencias significativas en el...