Mesa-Lago, Carmelo - In: The Geneva Papers on Risk and Insurance - Issues and … 34 (2009) 4, pp. 602-617
Between 1981 and 2008, 11 countries in Latin America structurally reformed their defined-benefit, Pay-As-You-Go, public pension systems, partially or totally replacing them with defined contribution, fully funded, privately managed schemes based on individual accounts. Initial failures in design...