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Movilidad en la Cartera de Cotizantes por AFP: La Importancia de ser Primero en Rentabilidad

  • Rodrigo Cerda


    (Instituto de Economía. Pontificia Universidad Católica de Chile.)

Este trabajo reexamina el tema de los movimientos de afiliados entre AFPs poniendo especial énfasis en el impacto del ranking de rentabilidad sobre la tasa de salida de cotizantes por cartera de AFPs. La idea de incluir esta variable es que el manejo de esta información por parte de los afiliados parece ser menos compleja que el manejo de información de la tasas de rentabilidades efectivas, y por lo tanto los afiliados pueden tomar decisiones más fácilmente basados en ella. En el trabajo se utilizan dos medidas de tasa de salida de cotizantes por AFP. La primera de ellas es la definición tradicional (número de cotizantes que abandonan la cartera sobre el número de cotizantes en la cartera), mientras que la segunda mide la tasa de salida normalizada por la tasa de salida en el sistema. Esta última medida permite eliminar efectos de posibles variables omitidas que tengan un alto componente común entre AFPs, como es típicamente el caso de esfuerzos de ventas.

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Paper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 309.

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Date of creation: 2006
Date of revision:
Handle: RePEc:ioe:doctra:309
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