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Determinantes del nivel de pensiones en el Sistema Privado de Pensiones
[Determinants of the pensions in the Peruvian Private Pension System]

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  • Olivera, Javier

Abstract

The aim of this research is to assess the determinants of future pensions in the Peruvian Private Pension System (SPP). For this goal, we describe the process for accumulation of funds (a stochastic Wiener process), income streams and employment spells, and then we perform sensitivity analysis by varying some parameter values. We find that the most important driver of the pension value is the pension fund return.

Suggested Citation

  • Olivera, Javier, 2002. "Determinantes del nivel de pensiones en el Sistema Privado de Pensiones [Determinants of the pensions in the Peruvian Private Pension System]," MPRA Paper 66683, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:66683
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    File URL: https://mpra.ub.uni-muenchen.de/66683/1/MPRA_paper_66683.pdf
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    References listed on IDEAS

    as
    1. Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Structural Retirement Model," Econometrica, Econometric Society, vol. 54(3), pages 555-584, May.
    2. William G. Gale, 1998. "The Effects of Pensions on Household Wealth: A Reevaluation of Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 106(4), pages 706-723, August.
    3. Jaime Saavedra-Chanduví & Martin Valdivia, 2000. "Household and Individual Decision-Making Over the Life Cycle: A First Look at Evidence from Peruvian Cohorts," Research Department Publications 3122, Inter-American Development Bank, Research Department.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Li, Carmen A & Olivera, Javier, 2005. "Participation in the Peruvian reformed pension system," Economics Discussion Papers 3618, University of Essex, Department of Economics.
    2. Olivera, Javier, 2002. "La tasa de reemplazo en el Sistema Privado de Pensiones [The replacement rate in the Peruvian private pension system]," MPRA Paper 66517, University Library of Munich, Germany.

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    More about this item

    Keywords

    Pensions; Wiener process; human capital; mortality; Peru;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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