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Why is it now time to draw lessons from pension reform in the Americas? One reason is that in pension economics research, with its long-term cohort and life-cycle focus, data availability sets the agenda. In 2002, the University of Chile's Microdata Center started collecting a new longitudinal survey, the Social Protection Survey (SPS), to evaluate the effects of the 1981 privatization of the pension system. Before the SPS, little micro-level data were available on labor supply and savings accumulation under private-account, multi-pillar programs. In light of this new information, this volume assembles several case studies of pension reforms through the continent, together with discussions of the pension design questions of the future.
The book opens with an instructive...