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

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  • Olivia S. Mitchell
  • Flavio Ataliba Barreto

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 policymakers and researchers in the OECD 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-age pension systems, and we highlight available evidence on system performance in" each case.

Suggested Citation

  • Olivia S. Mitchell & Flavio Ataliba Barreto, 1997. "After Chile, What? Second-Round Pension Reforms in Latin America," NBER Working Papers 6316, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:6316
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    References listed on IDEAS

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    1. Carlos Sales-Sarrapy & Fernando Solis-Soberon & Alejandro Villagomez-Amezcua, 1998. "Pension System Reform: The Mexican Case," NBER Chapters, in: Privatizing Social Security, pages 135-175, National Bureau of Economic Research, Inc.
    2. Schwarz, Anita M. & Demirguc-Kunt, Asli, 1999. "Taking stock of pension reforms around the world," Social Protection Discussion Papers and Notes 20533, The World Bank.
    3. Sebastian Edwards, 1998. "The Chilean Pension Reform: A Pioneering Program," NBER Chapters, in: Privatizing Social Security, pages 33-62, National Bureau of Economic Research, Inc.
    4. Salvador Valdés, "undated". "Vendedores de AFP: Producto del Mercado o de Regulaciones Ineficientes?," Documentos de Trabajo 178, Instituto de Economia. Pontificia Universidad Católica de Chile..
    5. Olivia S. Mitchell, "undated". "Building an Environment for Pension Reform in Developing Countries," Pension Research Council Working Papers 97-7, Wharton School Pension Research Council, University of Pennsylvania.
    6. Schmidt-Hebbel, K., 1995. "Columbia's Pension Reform. Fiscal and Macroeconomic Effects," World Bank - Discussion Papers 314, World Bank.
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    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. Vittas, Dimitri, 1997. "The Argentine pension reform and its relevance for Eastern Europe," Policy Research Working Paper Series 1819, The World Bank.
    4. Klaus-Jürgen Gern, 2002. "Recent Developments in Old Age Pension Systems: An International Overview," NBER Chapters, in: Social Security Pension Reform in Europe, pages 439-478, National Bureau of Economic Research, Inc.
    5. Eisen, Roland, 2000. "(Partial) privatization social security: The Chilean model - a lesson to follow?," CFS Working Paper Series 2000/13, Center for Financial Studies (CFS).
    6. 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.
    7. Juan Pablo Martinez Guzman & Travis St. Clair, 2021. "Pension reform and self‐employment in Latin America," Review of Development Economics, Wiley Blackwell, vol. 25(4), pages 2230-2254, November.
    8. 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.
    9. Eduardo Walker & Fernando Lefort, 2002. "Pension Reform And Capital Markets: Are There Any (Hard) Links?," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 5(2), pages 77-149.
    10. Eduardo Walker & Fernando Lefort, 2002. "Pension Reform And Capital Markets: Are There Any (Hard) Links?," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 5(2), pages 77-149.
    11. Olivia S. Mitchell, "undated". "Building an Environment for Pension Reform in Developing Countries," Pension Research Council Working Papers 97-7, Wharton School Pension Research Council, University of Pennsylvania.
    12. Johannes Jäger, 2000. "Soziale Auswirkungen, Ursachen und Funktionsweise des neoliberalen wirtschafts- und sozialpolitischen Modells in Lateinamerika," SRE-Disc sre-disc-2000_02, Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business.
    13. Kent Smetters, 2001. "The Effect of Pay-When-Needed Benefit Guarantees on the Impact of Social Security Privatization," NBER Chapters, in: Risk Aspects of Investment-Based Social Security Reform, pages 91-112, National Bureau of Economic Research, Inc.
    14. Alvaro Forteza, 2003. "Seguridad social y competencia política," Documentos de Trabajo (working papers) 0403, Department of Economics - dECON.

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    More about this item

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination

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