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150128 ||| eng |
| 020 |
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|a 9781451866728
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| 100 |
1 |
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|a Roldos, Jorge
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| 245 |
0 |
0 |
|a Pension Reform and Macroeconomic Stability in Latin America
|c Jorge Roldos
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2007
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| 300 |
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|a 32 pages
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| 651 |
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4 |
|a Chile
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| 653 |
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|a Sovereign bonds
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| 653 |
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|a Public debt
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| 653 |
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|a Private Pensions
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| 653 |
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|a Pension spending
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| 653 |
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|a Social Security and Public Pensions
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Nonwage Labor Costs and Benefits
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| 653 |
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|a Debt Management
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| 653 |
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|a Debts, Public
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| 653 |
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|a Debt
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Investments: Bonds
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| 653 |
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|a Labor
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Bonds
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| 653 |
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|a Pension reform
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| 653 |
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|a Pensions
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| 653 |
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|a Investment & securities
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| 653 |
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|a Public Finance
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781451866728.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2007/108/001.2007.issue-108-en.xml?cid=20663-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a This paper reviews macroeconomic aspects of pension reforms in Latin America, focusing on financial market stability and fiscal sustainability. Concentration of pension fund portfolios in government bonds remains high, and the lack of new investment alternatives has distorted asset prices. Countries have gradually liberalized investments abroad, but remain wary of the impact on foreign currency markets. The fiscal costs of the transition to funded systems have been higher than expected, and have contributed to high debt levels. The paper highlights the importance of coordinating changes in portfolio limits with debt management policies and measures to develop securities markets
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