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This paper describes the recent reforms of pension policies adopted by Argentina and Chile. The structural reforms in … different. In Chile, a long and participatory process resulted in a large reform that focuses on impacts on the medium term …
Persistent link: https://www.econbiz.de/10013111810
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system … and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as …
Persistent link: https://www.econbiz.de/10013305547
The influence of Chilean pension fund management organizations (AFPs) on corporate governance has been shaped by regulations and by three characteristics of the local market, namely: lack of liquidity; high ownership concentration; and high visibility of AFP investment decisions. AFPs began to...
Persistent link: https://www.econbiz.de/10005813741
, property and control structures in Chile, Brazil, Mexico and East Asia. Also, the role of pension funds in Chilean corporate … structures are diverse, being notably simpler in Chile. Finally, in this particular article some of the recently proposed legal … reforms in Chile are analyzed, especially those related with mandatory tender offer requirements. …
Persistent link: https://www.econbiz.de/10005813742
In a defined contribution pension system, one of the main risks faced by members refers to the investment of funds. In this context, we discuss which is the most suitable risk measurement for the affiliates to the pension system. Different life-cycle investment strategies are evaluated under...
Persistent link: https://www.econbiz.de/10013050037
En este trabajo, siguiendo a Balbontín (2014), analizamos el desempeño de los fondos de pensiones chilenos, de acuerdo a índices típicos definidos por Jensen, Sharpe y Treynor. El período de análisis comprendió 12 años, 2009 – 2020. De este estudio, se concluye que todos los fondos de...
Persistent link: https://www.econbiz.de/10014361641
There is a need in pension systems to significantly improve the level and stability of pension payments as pensioners age. Solutions to address increased longevity and longevity risk should be not limited to increasing the take-up rate of annuities – explicit guarantees are costly in a...
Persistent link: https://www.econbiz.de/10013295487
conclusiones sugieren que las restricciones que impone la normativa en Chile, les permite alcanzar niveles de retorno similar al de …
Persistent link: https://www.econbiz.de/10013062788
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012795769
This paper shows that important insights for fiscal policy can be derived from Joseph Schumpeter's academic work. This concerns his fundamental distinction between theories in which the monetary sphere is identical with the real sphere ("real analysis"), and theories in which financial sphere is...
Persistent link: https://www.econbiz.de/10013466735