Seminarios académicos y conferencias
"Informality and Crowd-out Effects: Evidence from the Chilean Retirement System"
27 Junio 2018 - 15:30 hrs.
Sala de postgrados, Facultad de Ciencias Económicas y Administrativas UC
Abstract: This paper studies labor market participation and crowd-out effects across different sources of savings the Chilean pension system. I jointly estimate a multi-equation correlated reduced form life-cycle model of wealth accumulation. I use semi-parametric full information maximum likelihood methods to account for estimation biases coming from correlated unobserved characteristics. The model estimates are used to study crowd-out effects of simulate policy experiments such as automatic enrollment in voluntary accounts or increases in contribution rates (work in progress).