One of the most interesting features of the Chilean pension system is that approximately two-thirds of all retirees purchase annuities, resulting in annuitization rates much higher than in other countries. In this paper we review recent developments in the payout market for Chilean pensions,...

Im vorliegenden Beitrag werden die wechselseitigen Beziehungen von demographischen Veränderungen und Arbeitsmarktentwicklungen anhand eines Literaturüberblicks diskutiert. Insbesondere werden die Effekte von demographischen Strukturen und Prozessen auf die Lohnstruktur und auf die...

We show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective...