Pension Design With a Large Informal Labor Market: Evidence From Chile

Joubert, Clément

doi:10.1111/iere.12118

Cited by 45 publications

(40 citation statements)

References 29 publications

(25 reference statements)

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“…Its design, implementation, and partial funding were provided by the University of Pennsylvania, while its methodological design and application were supervised by the University of Michigan. The EPS is a validated survey used for labor market studies (Behrman, Calderon, Mitchell, Vasquez, & Bravo, ; Joubert, ).…”

Section: Datamentioning

confidence: 99%

The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals

Parada‐Contzen¹

2019

Risk Analysis

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This article estimates the value of a statistical life (VSL) for Chile under the hedonic wage method while accounting for individual risk preferences. Two alternative measures of risk aversion are used. First, risk aversion is directly measured using survey measures of preferences over hypothetical gambles, and second, over observed individual behaviors that may proxy for risk preferences, such as smoking status, are used. I reconcile the results with a theoretical model of economic behavior that predicts how the wage‐risk tradeoff changes as risk aversion differs across individuals. The VSL estimates range between 0.61 and 8.68 million dollars. The results using smoking behavior as a proxy for risk attitudes are consistent with previous findings. However, directly measuring risk aversion corrects the wage‐risk tradeoff estimation bias in the opposite direction. The results are robust to other observed measures of risk aversion such as drinking behavior and stock investments. Results suggest that, consistent with the literature that connects smoking behavior with labor market outcomes, smoking status could be capturing poor health productivity effect in addition to purely risk preferences.

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Section: Datamentioning

confidence: 99%

The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals

Parada‐Contzen¹

2019

Risk Analysis

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“…В исследо-ваниях приводятся достаточные аргументы того, что неформальный сектор представляет собой не просто остаточный рынок труда, а предлагает работникам конкурентные возможности заработка. В результате участие в пенсионной программе становится выбором, а не обязательством [2].…”

Section: результаты исследования и их обсуждениеunclassified

Risks and Opportunities of the Pension System of Kazakhstan

Buribaev¹,

Khamzina²,

Rakhimova³

2019

ФИ (FR)

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В Казахстане со второй половины 1990-х гг. общество было поставлено пред необходимостью наряду с проводимыми экономическими преобразованиями начать осуществлять социальные реформы, которые бы отражали в полной мере состояние и возможности бюджетного финансирования мероприятий по социальному обеспечению и не ущемляли конституционные права граждан на гарантированность предоставления социального обеспечения. Страна стала пионером среди постсоветских государств по преобразованию системы пенсионного обеспечения: был увеличен пенсионный возраст, исключены льготные основания (условия более раннего выхода на пенсию), отменены социальные пенсии по инвалидности, по случаю потери кормильца и заменены на соответствующие виды пособий, которые, в отличие от пенсий, не связаны с прожиточным минимумом; введена накопительная пенсионная система наряду с действующей солидарной. В статье мы показываем, что первоначальный образец реформирования был изменен под влиянием актуальных национальных условий Казахстана, с учетом конституционного провозглашения права каждого на пенсионное обеспечение, независимо от участия в накопительной системе, а также под воздействием лучших практик государств ОЭСР. Последние выступают в современных условиях ориентирами развития отечественного пенсионного обеспечения. ключевые слова: пенсионное обеспечение, пенсионные накопления, пенсия, пенсионный фонд, казахстан, ОЭСРIn Kazakhstan, in the second half of the 90s of the last century, the society was put before the necessity, along with the ongoing economic reforms, to start implementing social reforms that would fully reflect the state and possibilities of budget financing of social welfare activities and would not impair the constitutional rights of citizens to guarantee social security. The country became a pioneer among the post-Soviet countries in reforming the pension system: the retirement age was increased, preferential grounds (conditions for earlier retirement) were excluded, social disability pensions were canceled, in the event of loss of the breadwinner, and replaced by appropriate types of benefits, which, unlike from pensions, not associated with a living wage; the accumulative pension system was introduced along with the existing joint one. In the article, we show that the initial model of the reform was changed under the influence of the current national conditions of Kazakhstan, taking into account the constitutional proclamation of everyone for pensions, regardless of participation in the funded system, as well as under the influence of the best practices of OECD states. The latter act in modern conditions as guidelines for the development of domestic pension provision.

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“…Pappa, Sajedi, and Vella (2015) show that tax evasion and corruption matter for the size of fiscal multipliers. Joubert (2015) explores the link between informality and the design of a pension system within a structural model, while Albrecht, Navarro, and Vroman (2009) and Meghir, Narita, and Robin (2015) study the interaction between informality and labor market dynamics. Koreshkova (2006) evaluates the role of inflation as an implicit tax on the informal economy.…”

Section: Related Literaturementioning

confidence: 99%

Envelope Wages, Hidden Production and Labor Productivity

2017

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We evaluate the relative importance of aggregate labor productivity versus income taxes and social contributions for tax compliance in an economy with a large degree of informality. Empirical evidence points out that tax evasion in Europe happens through partially concealing wages and profits in formally registered enterprises. To this end, we build a model in which employer-employee pairs of heterogeneous productive capacities make joint decisions on the degree of tax evasion. The quantitative model is used to analyze the case of Bulgaria which has the largest informal economy in Europe and underwent a number of important tax reforms over the period 2000-2014, including the introduction of a flat income tax in 2008. The estimation strategy relies on matching the empirical series for the size of the informal economy and other aggregate outcomes for 2000-2014. Our counterfactual experiments show that the most important factor for the changing size of the informal economy is labor productivity, which accounts for more than 75% of the change. The variation in corporate income tax accounts for the rest. We find that the 2008 flat tax reform did not play any visible role in coping with informality.

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Pension Design With a Large Informal Labor Market: Evidence From Chile

Cited by 45 publications

References 29 publications

The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals

The Value of a Statistical Life for Risk‐Averse and Risk‐Seeking Individuals

Risks and Opportunities of the Pension System of Kazakhstan

Envelope Wages, Hidden Production and Labor Productivity

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