This paper estimates the magnitude of participation costs and preference parameters exploiting information on households’ participation decisions in the equities market. A structural model for portfolio choices over the life cycle is solved numerically. The parameters of interest are estimated...

We propose alternative methods to project pension rights and implement them in Chile and Uruguay and partially in Argentina. We use incomplete work histories databases from the social security administrations to project entire lifetime work histories. We first fit linear probability and duration...

The authors propose alternative methods to project pension rights and implement them in Chile and Uruguay and partially in Argentina. The authors use incomplete work histories databases from the social security administrations to project entire lifetime work histories. The authors first fit...

How much redistribution does Uruguay accomplish through social spending and taxes? How progressive are revenue collection and social spending? What could be done to further increase redistribution and improve redistributional effectiveness? A standard fiscal incidence analysis shows that Uruguay...

How much redistribution does Uruguay accomplish through social spending and taxes? How progressive are revenue collection and social spending? A standard fiscal incidence analysis shows that Uruguay achieves a nontrivial reduction in inequality and poverty when all taxes and transfers are...