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Household Risk Management and Social Protection in Chile

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  • World Bank
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    Abstract

    This volume takes a critical look at the country's social protection "system" - broadly defined to include policy interventions, public institutions, and the regulation of private institutions that lower the welfare costs of adverse shocks to income from job loss and extended unemployment, health episodes, old age, and life-time poverty - to determine if a system exists or simply a set of loosely coordinated programs. The study also assesses whether households are provided with appropriate tools to mitigate risks to their income, identifying gaps in coverage and where instruments are missing. As well, the study provides the Government with a set of guidelines grounded in a conceptual framework that, if carefully applied, could increase the effectiveness of social protection. The author of the study finds that Chile succeeds in providing households with the instruments that they need to mitigate shocks to income. The institutions Chile has put in place to help households lower losses from these shocks - from the new unemployment insurance system, the retirement security system and the mixed health insurance system - are generally appropriately designed to match the nature of the risks they are intended to cover. Yet, while still in a minority, too many Chilean households - even among the non poor - do not have access to the sophisticated, state of the art social protection institutions that are in place.

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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 14839 and published in 2005.

    ISBN: 0-8213-5953-3
    Handle: RePEc:wbk:wbpubs:14839

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    Postal: 1818 H Street, N.W., Washington, DC 20433
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    Web page: https://openknowledge.worldbank.org
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    Related research

    Keywords: Insurance and Risk Mitigation Services and Transfers to Poor Health Monitoring and Evaluation Banks and Banking Reform Poverty Reduction - Rural Poverty Reduction Finance and Financial Sector Development Health; Nutrition and Population;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Woden, Q.T. & Ayres, W. & Barenstein, M. & Hicks, N. & Lee, K. & Maloney, W. & Peeters, P. & Siaens, C. & Yitzjaki, S., 2000. "Poverty and Policy in Latin America and Caribeean," Papers 467, World Bank - Technical Papers.
    2. Sebastian Edwards & Alejandra Cox Edwards, 2000. "Economic Reforms and Labor Markets: Policy Issues and Lessons from Chile," NBER Working Papers 7646, National Bureau of Economic Research, Inc.
    3. Arístides Torche & Gert Wagner, 1997. "Previsión Social: Valoración Individual de un Beneficio Mandatado," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 34(103), pages 363-390.
    4. Indermit S. Gill & Truman G. Packard & Juan Yermo & Todd Pugatch, 2004. "Keeping the Promise of Old Age Income Security in Latin America," World Bank Other Operational Studies 10349, The World Bank.
    5. Holzmann, Robert & Packard, Truman & Cuesta, Jose, 2000. "Extending coverage in multi-pillar pension systems : constraints and hypotheses, preliminary evidence and future research agenda," Social Protection Discussion Papers 21303, The World Bank.
    6. Paul Mosley & Robert Holzmann & Steen Jorgensen, 1999. "Social protection as social risk management: conceptual underpinnings for the social protection sector strategy paper," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(7), pages 1005-1027.
    7. William F. Maloney & Jairo Nunez Mendez, 2003. "Measuring the Impact of Minimum Wages: Evidence from Latin America," NBER Working Papers 9800, National Bureau of Economic Research, Inc.
    8. Gruber, Jonathan, 1997. "The Incidence of Payroll Taxation: Evidence from Chile," Journal of Labor Economics, University of Chicago Press, vol. 15(3), pages S72-101, July.
    9. Robert Holzmann, 1997. "Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 149-178, June.
    10. Carmen Pagés-Serra & Claudio E. Montenegro, 1999. "Job Security and the Age-Composition of Employment: Evidence from Chile," IDB Publications 4118, Inter-American Development Bank.
    11. Renate Schubert, 1999. "Financial Decision-Making: Are Women Really More Risk-Averse?," American Economic Review, American Economic Association, vol. 89(2), pages 381-385, May.
    12. James, Estelle, 1996. "Protecting the old and promoting growth : a defense of averting the old age crisis," Policy Research Working Paper Series 1570, The World Bank.
    13. Shah, Hemant, 1997. "Toward better regulation of private pension funds," Policy Research Working Paper Series 1791, The World Bank.
    14. Zvi Bodie, 1989. "Pensions as Retirement Income Insurance," NBER Working Papers 2917, National Bureau of Economic Research, Inc.
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    Cited by:
    1. Lissette Aliaga Linares, 2011. "Socio-Spatial Implications of Street Market Regulation Policy: The Case of Ferias Libres in Santiago de Chile," Working Paper Series UNU-WIDER Working Paper W, World Institute for Development Economic Research (UNU-WIDER).

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