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After Chile, What? Second-Round Social Security Reforms in Latin America

Author

Listed:
  • Olivia Mitchell

    (Professor, The Wharton School, Philadelphia.)

  • Flávio Ataliba F. D. Barreto

    (Departamento de Economia Aplicada, Universidade Federal do Ceará.)

Abstract

The apparent success of Chile's pension reform catalyzed a number of subsequent reforms in sister Latin American nations, and the "Chilean model" has now captivated the attention of polin'makers and researchers in the GECD as well. In this paper we identify six critical elements of old-age pension reform, and examine how these six elements differ across the Chilean reform, and several other Latin nations that followed in Chile's footsteps. We emphasize how these other Latin American nations adopted different mechanisms to restructure their old-pension systems, and we highlight available evidence on system performance in each case.

Suggested Citation

  • Olivia Mitchell & Flávio Ataliba F. D. Barreto, 1997. "After Chile, What? Second-Round Social Security Reforms in Latin America," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 12(2), pages 3-36, June.
    • Handle: RePEc:ila:anaeco:v:12:y:1997:i:2:p:3-36
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    Citations

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    Cited by:

    1. David McCarthy & Olivia S. Mitchell, 2004. "Annuities for an ageing world," Chapters, in: Elsa Fornero & Elisa Luciano (ed.), Developing an Annuity Market in Europe, chapter 2, pages 13-48, Edward Elgar Publishing.
    2. Olivia S. Mitchell, "undated". "Insulating Old-Age Systems from Political Risk," Pension Research Council Working Papers 98-3, Wharton School Pension Research Council, University of Pennsylvania.
    3. John Geanakoplos & Olivia S. Mitchell & Stephen P. Zeldes, "undated". "Social Security Money's Worth," Pension Research Council Working Papers 97-20, Wharton School Pension Research Council, University of Pennsylvania.
    4. John Geanakoplos & Olivia S. Mitchell & Stephen P. Zeldes, "undated". "Would a Privatized Social Security System Really Pay a Higher Rate of Return?," Pension Research Council Working Papers 98-6, Wharton School Pension Research Council, University of Pennsylvania.
    5. Johannes Jäger, 1998. "Die Privatisierung des Pensionssystems in Lateinamerika: Ursachen und Folgen des Experiments in Chile," SRE-Disc sre-disc-60, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    6. repec:pid:wpaper:2010:1 is not listed on IDEAS
    7. Alvaro Forteza, 1999. "Política de clientelas y reformas de la Seguridad Social en América Latina," Documentos de Trabajo (working papers) 1899, Department of Economics - dECON.
    8. Vittas, Dimitri, 1997. "The Argentine pension reform and its relevance for Eastern Europe," Policy Research Working Paper Series 1819, The World Bank.
    9. Olivia S. Mitchell, 2001. "Developments in Decumulation: The Role of Annuity Products in Financing Retirement," NBER Working Papers 8567, National Bureau of Economic Research, Inc.
    10. Amjad, Rashid & Din, Musleh ud, 2010. "Economic and social impact of global financial crisis: implications for macroeconomic and development policies in South Asia," MPRA Paper 38150, University Library of Munich, Germany.
    11. Olivia S. Mitchell, 1998. "Social security reform in Latin America," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 15-18.
    12. Zhi Da & Borja Larrain & Clemens Sialm & José Tessada, 2016. "Coordinated Noise Trading: Evidence from Pension Fund Reallocations," NBER Working Papers 22161, National Bureau of Economic Research, Inc.
    13. Marie‐Eve Lachance & Olivia S. Mitchell & Kent Smetters, 2003. "Guaranteeing Defined Contribution Pensions: The Option to Buy Back a Defined Benefit Promise," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(1), pages 1-16, March.
    14. Alberto Arenas de Mesa & David Bravo & Jere R. Behrman & Olivia S. Mitchell & Petra E. Todd, 2006. "The Chilean Pension Reform Turns 25: Lessons From the Social Protection Survey," NBER Working Papers 12401, National Bureau of Economic Research, Inc.
    15. Alvaro Forteza, 2003. "Seguridad social y competencia política," Documentos de Trabajo (working papers) 0403, Department of Economics - dECON.
    16. Olivia S. Mitchell, "undated". "International Models for Pension Reform," Pension Research Council Working Papers 98-5, Wharton School Pension Research Council, University of Pennsylvania.

    More about this item

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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