We compute and characterize several labor flow measures using administrative tax records for all formal Chilean firms and employees. Our results show that labor mobility in Chile is significant by international standards, with the reallocation rate averaging 37% over the last decade, the highest...

We compare the macroeconomic effects of a fully funded individual defined contribution (IDC) pension scheme, an unfunded pay-as-you-go (PAYG) system, and a collective defined contribution (CDC) regime. Under the latter, contributions of workers from a given cohort are invested in capital markets...