La reforma del sistema de pensiones europeo parte de diferencias de ingresos relativamente bajas, debidas parcialmente a la alta cobertura del sistema. En América Latina persisten los problemas de informalidad e insuficiente cobertura, y la desigualdad de ingresos es elevada. Aun así, ambas...

Prefunding of pension commitments in OECD economies is increasingly seen as a central strategy to cope with the aging of their populations. This paper argues that investments in emerging markets can help at the margin but are unable to solve the demographic problem. While these investments bring...