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The 2008 Chilean pension reform: household financial decisions and gender differences

Author

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  • Alessandro Bucciol
  • Martina Manfrè
  • Gregorio Gimenez

Abstract

We evaluate the effect of the 2008 pension reform in Chile, applying a difference-in-difference estimation method to longitudinal survey data representative of the Chilean population. Our evidence suggests that those who started to receive a basic pension increased their debt more than their assets. We interpret this as an indicator of debt sustainability. The debt ratio increased significantly more for women, who may be particularly exposed to financial crises. The results raise concerns about the potential financial vulnerability of the population targeted by the reform, due to over-indebtedness.

Suggested Citation

  • Alessandro Bucciol & Martina Manfrè & Gregorio Gimenez, 2022. "The 2008 Chilean pension reform: household financial decisions and gender differences," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 25(1), pages 62-79, January.
    • Handle: RePEc:taf:jpolrf:v:25:y:2022:i:1:p:62-79
    DOI: 10.1080/17487870.2020.1778475
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    Cited by:

    1. Marcela PARADA‐CONTZEN, 2023. "Gender, family status and health characteristics: Understanding retirement inequalities in the Chilean pension model," International Labour Review, International Labour Organization, vol. 162(2), pages 271-303, June.

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