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Economía política de la reforma del sistema colombiano de pensiones

Author

Listed:
  • Álvaro Martín Moreno R.

    (Universidad Nacional de Colombia)

  • Fabio Ortiz

    (Universidad Externado de Colombia)

Abstract

This paper offers a critical analysis of the arguments against the public pensions system. It shows that the defense of the fully funded system based on its solvency and its ability to automatically cope with the processes of aging society are mere fallacies. In fact, it can be shown that the pay-as-you-go and fully funded systems are equivalent, facing the same problems in the long term. Finally, projections of conventional indicators show that the cries of alarm of Fedesarrollo and BBVA have no solid foundation.

Suggested Citation

  • Álvaro Martín Moreno R. & Fabio Ortiz, 2010. "Economía política de la reforma del sistema colombiano de pensiones," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 12(22), pages 167-192, January-J.
    • Handle: RePEc:rei:ecoins:v:12:y:2010:i:22:p:167-192
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/amoreno22.pdf
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    References listed on IDEAS

    as
    1. Feldstein, Martin, 1996. "The Missing Piece in Policy Analysis: Social Security Reform," American Economic Review, American Economic Association, vol. 86(2), pages 1-14, May.
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    6. Sergio Cesaratto, 2006. "Transition to fully funded pension schemes: a non-orthodox criticism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(1), pages 33-48, January.
    7. Eladio Febrero & Maria-Angeles Cadarso, 2006. "Pay-As-You-Go versus funded systems. Some critical considerations," Review of Political Economy, Taylor & Francis Journals, vol. 18(3), pages 335-357.
    8. Sergio Cesaratto, 2002. "The Economics of Pensions: A non-conventional approach," Review of Political Economy, Taylor & Francis Journals, vol. 14(2), pages 149-177.
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    Cited by:

    1. Nancy Quinceno Cárdenas, 2014. "Modelación basada en agentes en el sistema pensional colombiano. Una aproximación desde el mercado laboral y la dinámica poblacional," Revista CIFE, Universidad Santo Tomás, September.

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    More about this item

    Keywords

    pension system; political economy;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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