Seeking solutions to Vulnerability in Old Age: Preferences, constraints, and alternatives for coverage under Peru`s pension system
AbstractExploiting new data from a survey and behavioral experiment conducted in Peru we analyze indvidual`s preferences for securing income in old age. We identify a group that is unrationed by the mandate to save in Peru`s pension system, and draw insights from their affiliation and contribution behavior. Among the unrationed, those who are more tolerant of risk, have more children, and have a greater share of housing in their accumulated assets, are less likely to affiliate and/or contribute to the formal pensions sytem. Further, the less risk tolerant choose private individual retirement accounts over a publicly administered pension system.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number WPS/2005-05.
Date of creation: 01 Feb 2005
Date of revision:
Pensions; Vulnerability; Risk Preferences; Latin America;
Other versions of this item:
- Abigail Barr & Truman G. Packard, 2005. "Seeking solutions to Vulnerability in Old Age: Preferences, constraints, and alternatives for coverage under Peru’s pension system," CSAE Working Paper Series 2005-05, Centre for the Study of African Economies, University of Oxford.
- Abigail Barr & Truman Packard, 2005. "Seeking solutions to vulnerability in old age: Preferences, constraints, and alternatives for coverage under peru`s pension system," Framed Field Experiments 00123, The Field Experiments Website.
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
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