Melguizo, Angel; Munoz, Angel; Tuesta, David; Vial, Joaquin - BBVA Research, Grupo BBVA - 2009
In this paper we analyze the short and medium term fiscal costs stemming from structural pension reform, taking Chile as workhorse. The Chilean pension system, based on individual capital accounts managed by the private sector, has been in operation for almost 30 years, providing a rich evidence...