Supporting Seniors: How Low-Income Elderly Individuals Respond to a Retirement Support Program. Presenta: Sumit Agarwal (National University of Singapore)
Los invitamos al ciclo de SEMINARIOS ACADEMICO CEA- MIPP:
Cuándo: 29 de marzo de 2023 – 12:30 PM Santiago.
Dónde: Sala Consejo (401), Beauchef 851, piso 4 | Departamento de Ingeniería Industrial.
Tema: Supporting Seniors: How Low-Income Elderly Individuals Respond to a Retirement Support Program.
Presenta: Sumit Agarwal (National University of Singapore)
Abstract:
Longer life expectancy and insufficient savings expose individuals to financial vulnerability in older ages and prompt government support measures. We study a government subsidy program for the low-income elderly population in Singapore. Using comprehensive, high-frequency transaction data, we estimate a marginal propensity to consume (MPC) out of the permanent income increases of 0.7, driven by precautionary savings and bequest motives. More liquidity-constrained recipients exhibit an MPC of 1. We find no evidence of labor supply reduction or other strategic behaviors. We discuss implications for eligibility criteria, payment frequency, and distribution form in policy design.
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