The design of an adequate pension system is a very complex because it must contemplate multiple objectives. Must be inclusive, reduce poverty in old age, providing appropriate incentives in the labor market, increasing the aggregate savings of the economy, the ability to smooth consumption...

Since 2003, it has been observed in Argentina a paradigm shift with regard to social security, in general, and pension system, in particular, based mainly on the inclusion and solidarity. The implementation of the Pension Inclusion Plan, more than ten increases in pension benefits before the...

A social security system which works properly should be universal and equitable, ensuring a minimum standard to all beneficiaries and sustainable over time. The literature agrees that the central objectives of them are the prevention of poverty among the elderly and consumption smoothing over...

The pension system is an essential component within social security. Due to several reasons, among which the current international financial crisis and the rapid aging of the population that is happening in many countries outstand, throughout these last few years several reforms have been...

One of the objectives of the State is to achieve the highest possible level os society, which is central to ensuring a level of social protection that tends to universality and coverage of socially recognized needs and contingencies such as education, health, security, old age, maternity,...

Many macroeconomic forecasts and forecast updates like those from IMF and OECD typically involve both a model component, which is replicable, as well as intuition, which is non-replicable. Intuition is expert knowledge possessed by a forecaster. If forecast updates are progressive, forecast...

In this paper we advance the idea that optimal risk management under the Basel II Accord will typically require the use of a combination of different models of risk. This idea is illustrated by analyzing the best empirical models of risk for five stock indexes before, during, and after the...