Social Security and Wealth Accumulation in Developing Economies: Evidence from the 1981 Chilean Reform

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dc.contributor.authorCerda, Rodrigo A.
dc.date.accessioned2025-01-21T01:04:59Z
dc.date.available2025-01-21T01:04:59Z
dc.date.issued2008
dc.description.abstractWealth holdings are particularly important in developing economics as they allow individuals to insure themselves against income shocks in the absence of developed financial markets. In this paper, we test whether the existence of future social security benefits impacts wealth holdings by using the 1981 Chilean social security reform. Our estimates are based on the EPS 2004, which contains detailed data on wealth holdings (assets and liabilities) and social security account balances. By means of different econometric methods, we find no impact of social security on wealth accumulation, with the exception of poorer individuals. In that case, each additional peso in social security wealth depresses other types of wealth by almost 0.1 pesos, mainly in regard to real estate. (C) 2008 Elsevier Ltd. All rights reserved.
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.worlddev.2008.01.008
dc.identifier.issn0305-750X
dc.identifier.urihttps://doi.org/10.1016/j.worlddev.2008.01.008
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/95769
dc.identifier.wosidWOS:000261117000019
dc.issue.numero10
dc.language.isoen
dc.pagina.final2044
dc.pagina.inicio2029
dc.revistaWorld development
dc.rightsacceso restringido
dc.subjectwealth
dc.subjectsocial security
dc.subjectLatin America
dc.subjectChile
dc.subject.ods10 Reduced Inequality
dc.subject.ods03 Good Health and Well-being
dc.subject.ods01 No Poverty
dc.subject.odspa10 Reducción de las desigualdades
dc.subject.odspa03 Salud y bienestar
dc.subject.odspa01 Fin de la pobreza
dc.titleSocial Security and Wealth Accumulation in Developing Economies: Evidence from the 1981 Chilean Reform
dc.typeartículo
dc.volumen36
sipa.indexWOS
sipa.trazabilidadWOS;2025-01-12
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