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In 1994 Colombia started replacing its state-run and pay-as-you-go (PAYG) pension system by a privately-run and fully-funded scheme. Numerical simulations for the government's reform transition reveal implicit PAYG debt levels and corresponding reform transition deficits that are high relative to...


Schmidt-Hebbel, Klaus[Fiscal and Macroeconomic Effects of Colombia`s Pension Reform]Fiscal and Macroeconomic Effects of Colombia`s Pension Reform

Schmidt-Hebbel, Klaus[Terms of Trade and the Current Account under Uncertainty]Terms of Trade and the Current Account under Uncertainty

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