converge towards lower equilibrium real interest rates if domestic savings increase to the level of other emerging market … countries. The effect is particularly pronounced if the increase in domestic savings is achieved through higher levels of public … savings. Still, econometric results suggest that, controlling for everything else in the model, real interest rates in Brazil …

's savings are likely insufficient to address aging costs without additional fiscal action …

these systems, regulating the withdrawal of retirement savings will become increasingly important. Government regulation of …

of entitlements may yield significant budgetary savings, it may result in a deterioration in income distribution against …