Albagli, Elías; Arias Gutiérrez, Agustín H.; … - In: Estudios de Economía 51 (2024) 2, pp. 325-381
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...
