← volver

SEMINARIOS ACADEMICO CEA- MIPP: «The Effects of the Minimum Pension Reform in a Defined Contribution Pension System: The Case of Chile», Jorge Sabat (UDP)

07Sep

Los invitamos al ciclo de  SEMINARIOS ACADEMICO CEA- MIPP:

Cuándo: 07 de Septiembre de 2022 – 12:00 PM Santiago.

Dónde: Sala de Consejo, Beauchef 851, piso 4 | Departamento de Ingeniería Industrial.

Tema: The Effects of the Minimum Pension Reform in a Defined Contribution Pension System: The Case of Chile

Presenta: Jorge Sabat (UDP)

https://www.udp.cl/academico/jorge-sabat/

Abstract: 

Using longitudinal data on roughly 16,800 low-income workers, I estimate the effects of a reform that introduced a solidarity pillar on the Chilean defined contribution pension system. I specifically test for a negative effect on the propensity to save for retirement that would have arisen from the disincentives caused by the introduction of an implicit tax on pension savings, as predicted by a theoretical life-cycle model. Empirically, I document a negative and significant effect on the propensity to save for retirement among workers with historically low incomes and contribution densities. However, the estimated disincentive effect shows a significantly smaller magnitude than the predictions of a standard neoclassical model. Moreover, I find no evidence of disincentives being concentrated among mid-age and old workers, which is another clear prediction of the models. The model can rationalize other facts obtained from the data: stronger negative effect for low-income female workers, a reduction in hours of work, and an effect concentrated among occupations where informality is more common.

Más información se encuentra disponible en la página web MIPP:

https://mipp.cl/es/events_category/seminario/