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. Author manuscript; available in PMC: 2009 Oct 27.
Published in final edited form as: J Monet Econ. 2007 Jan 1;54(1):92–114. doi: 10.1016/j.jmoneco.2006.12.004

Table 3.

Averages of the Retirement and Pension Variables over Time

Year 1961 1970 1980 1990 2000
Variable
Universal Coverage 0.538 0.607 0.607 0.724 0.767
Retirement Incentive 0.538 0.569 0.696 0.621 0.500
Replacement rate: pay as you go 0.452 0.448 0.499 0.497 0.487
Replacement Rate: fully funded 0.019 0.081 0.099 0.122 0.175
Number of Countries 39 51 56 58 60