Transitional fiscal costs and demographic factors in shifting from unfunded to funded pensions in Latin America

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/FI 30(88/99)
cepal.callNumberLC/L.1264-P
cepal.divisionEngFinancing for Development Division
cepal.divisionEngCELADE - Population Division
cepal.divisionOldUnidad de Financiamiento
cepal.divisionSpaDivisión de Financiamiento para el Desarrollo
cepal.divisionSpaCELADE - División de Población
cepal.docTypeSeries
cepal.idSade4513
cepal.jobNumberS9910665 E
cepal.physicalDescriptiondiagramas, tablas
cepal.regionalOfficeSantiago
cepal.saleNumber99.II.G.38
cepal.topicEngDEMOGRAPHY
cepal.topicEngSOCIAL PROTECTION
cepal.topicEngFISCAL AFFAIRS
cepal.topicSpaDEMOGRAFÍA
cepal.topicSpaPROTECCIÓN SOCIAL
cepal.topicSpaASUNTOS FISCALES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSOCIAL DEVELOPMENT
cepal.workareaEngPOPULATION AND DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaDESARROLLO SOCIAL
cepal.workareaSpaPOBLACIÓN Y DESARROLLO
dc.contributor.authorUthoff, Andras
dc.contributor.authorBravo, Jorge Horacio
dc.contributor.entityNU. CEPAL. CELADE
dc.contributor.entityNU. CEPAL. Unidad de Financiamiento
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T15:44:23Z
dc.date.available2014-01-02T15:44:23Z
dc.date.issued1999-10
dc.descriptionIncludes bibliography
dc.description.abstractAbstract After the 1981 Chilean pension system reform, which shifted from a government run pay-as-you-go system to a private, fully funded one, many countries in Latin America have implemented or are considering reforms with an important funded component. We develop a simple model to assess the magnitude of the implicit government debt that needs to be made explicit by this policy, as well as the transitional fiscal costs that such a reform implies. We show that the liabilities and the associated fiscal costs are affected by the population age structure, old-age mortality, labour-market and pension system variables. By use of data from Latin American countries, we find that in several countries, especially those with more aged populations and high coverage systems, the pension debt is very high, and that a switch from unfunded to fully funded systems implies substantial fiscal costs, that may even turn out to be economically and politically unviable in some cases. The effect of some partial funding options are discussed in selected national contexts.
dc.formatTexto
dc.format.extent29 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.isbn9211212448
dc.identifier.unSymbolLC/L.1264-P
dc.identifier.urihttps://hdl.handle.net/11362/5295
dc.language.isoeng
dc.physicalDescription29 p. : diagrs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Financiamiento del Desarrollo
dc.relation.isPartOfSeriesNo88
dc.rights.coarDisponible
dc.subject.unbisEngPENSION SCHEMES
dc.subject.unbisEngPOPULATION ASPECTS
dc.subject.unbisEngRETIREMENT
dc.subject.unbisEngTAX ADMINISTRATION
dc.subject.unbisEngWELFARE ECONOMICS
dc.subject.unbisSpaADMINISTRACION FISCAL
dc.subject.unbisSpaASPECTOS DEMOGRAFICOS
dc.subject.unbisSpaJUBILACION
dc.subject.unbisSpaPLANES DE JUBILACION
dc.subject.unbisSpaECONOMIA DEL BIENESTAR
dc.titleTransitional fiscal costs and demographic factors in shifting from unfunded to funded pensions in Latin America
dc.type.coarlibro
dspace.entity.typePublication
relation.isAuthorOfPublication54c8a15c-d38e-4fe0-a2f0-04a0128d0b86
relation.isAuthorOfPublication3e64519e-38fe-47db-948b-103f720454ac
relation.isAuthorOfPublication.latestForDiscovery54c8a15c-d38e-4fe0-a2f0-04a0128d0b86
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