(Partial) privatization social security: the Chilean model - a lesson to follow?

  • This paper examines thoroughly the Chilean Pension Reform, giving first an overview of the mandatory saving plan, the relevant institutions, and the rules for transition from the old to the new system. The main part of the paper contains a critical evaluation of the reform, in particular the macroeconomic performance with respect to capital formation and growth, and the effects on the savings rate as well as on the rates of return and labor market are discussed. Furthermore, the development of capital markets is reviewed. A short critique is presented with respect to intergenerational distribution and risk sharing as well as with respect to the social consequences. This paper is the result of a CFS sponsored research project. A preliminary version was presented at the meeting of the committee of Social Policy of the Verein fuer Socialpolitik, May 1999 and at the 55th Congress of IIPF, 23-26 August 1999, in Moskow.

Download full text files

Export metadata

Additional Services

Share in Twitter Search Google Scholar
Author:Roland EisenGND
Parent Title (German):Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2000,13
Series (Serial Number):CFS working paper series (2000, 13)
Document Type:Working Paper
Year of Completion:2000
Year of first Publication:2000
Publishing Institution:Universit├Ątsbibliothek Johann Christian Senckenberg
Release Date:2005/06/13
Tag:Chile; Privatization; Social Security reform
GND Keyword:Chile; Rentenreform
Institutes:Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht