Low contribution levels to pension schemes in Latin America are an enormous obstacle limiting the implementation of a broad-based social security system. Contribution rates measured as a ratio of contributors to the total labour force stand at an average of 40%, or 60% in the best of cases....

This paper presents a brief history of pension reform in Chile, and the reasons behind the introduction of individual privately-managed accounts in 1981, as well as the adjustments to the system introduced in 2006-07. The main conclusions are that the system is sound, but the reinforcement of...

En este documento analizamos los costes fiscales a corto y medio plazo derivados de la reforma estructural del sistema de pensiones, tomando a Chile como ejemplo. El sistema de pensiones chileno, basado en cuentas de capitalizacion individual gestionadas por el sector privado esta funcionando...

El incremento del riesgo de longevidad viene imponiendo retos importantes en las economias. Las industrias como la de seguros y pensiones, que se encuentran mas directamente relacionadas a la gestion de los riesgos de vejez, han venido experimentando desde hace varios anos efectos directos, lo...

The increase in longevity risk is leading to serious challenges for economies. Industries such as insurance and pensions, which are most closely related to the management of the risks of an aging population, have for a number of years experienced direct effects of this kind. To counterbalance...

The lessons from resource-rich Chile and Norway highlight important points for international development policy. Resource-rich countries need advice on how to build institutions to manage inflows. Learning from Norway, Chile and other resource-rich economies could make commodity-related...

This article analyses the work of Albert Hirschman from the standpoint of two basic concepts: trespassing and self-subversion. Hirschman turned these exercises into an art, pleading his case in a manner which combines curiosity and intellectual humility. In a world accustomed to think and think...