Pension Reform and Macroeconomic Stability in Latin America:
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...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2007
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Schriftenreihe: | IMF Working Papers
Working Paper No. 07/108 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | 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 |
Beschreibung: | 1 Online-Ressource (32 p) |
ISBN: | 1451866720 9781451866728 |
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spelling | Roldos, Jorge Verfasser aut Pension Reform and Macroeconomic Stability in Latin America Roldos, Jorge Washington, D.C International Monetary Fund 2007 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/108 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 Online-Ausg http://elibrary.imf.org/view/IMF001/05178-9781451866728/05178-9781451866728/05178-9781451866728.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Roldos, Jorge Pension Reform and Macroeconomic Stability in Latin America |
title | Pension Reform and Macroeconomic Stability in Latin America |
title_auth | Pension Reform and Macroeconomic Stability in Latin America |
title_exact_search | Pension Reform and Macroeconomic Stability in Latin America |
title_exact_search_txtP | Pension Reform and Macroeconomic Stability in Latin America |
title_full | Pension Reform and Macroeconomic Stability in Latin America Roldos, Jorge |
title_fullStr | Pension Reform and Macroeconomic Stability in Latin America Roldos, Jorge |
title_full_unstemmed | Pension Reform and Macroeconomic Stability in Latin America Roldos, Jorge |
title_short | Pension Reform and Macroeconomic Stability in Latin America |
title_sort | pension reform and macroeconomic stability in latin america |
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