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CEPAL Review

Cepal Review is the leading journal for the study of economic and social development issues in Latin America and the Caribbean. Edited by the Economic Commission for Latin America, each issue focuses on economic trends, industrialization, income distribution, technological development and monetary systems, as well as the implementation of economic reform and transfer of technology. Written in English and Spanish (Revista de la Cepal), each tri-annual issue offers approximately 12 studies and essays undertaken by authoritative experts or gathered from conference proceedings.

English Spanish

Reforming the pension reforms: Argentina and Chile

This article describes the most recent pension reforms in Argentina and Chile. The previous reforms, implemented in the 1980s and 1990s, aimed to improve long-term fiscal sustainability and institutional design of the systems, shifting part of the social and economic risks away from the State and on to participants. In recent years, the authorities in both countries identified the main problems facing current pension systems as inadequate coverage for older adults and the low level of benefits. The two countries have responded differently, however, owing to institutional and political divergences. In Chile, a lengthy participatory process resulted in a wide-ranging reform targeting medium-term effects through carefully calibrated adjustments. In contrast, the reforms in Argentina were made through a succession of corrections, with little public discussion of their implications or effects on coverage and fiscal needs.

English Spanish

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