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Los determinantes de la elección de AFP en Chile: nueva evidencia a partir de datos individuales

Author

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  • Solange Berstein Jáuregui
  • Carolina Cabrita Felix

Abstract

El presente artículo es el primero en utilizar datos individuales para analizar la demanda por AFP en Chile. El estudio emplea técnicas de datos de panel que permiten estimar la probabilidad de traspaso de un afiliado. Los resultados obtenidos confirman el rol reponderante de las fuerzas de venta, ya sugerido previamente por estudios que utilizaron datos agregados por AFP. En particular, se muestra que si bien la sensibilidad de la demanda en relación a precios y rentabilidad es baja, ésta se incrementa notablemente cuando se asocia a la participación de un vendedor.

Suggested Citation

  • Solange Berstein Jáuregui & Carolina Cabrita Felix, 2007. "Los determinantes de la elección de AFP en Chile: nueva evidencia a partir de datos individuales," Estudios de Economia, University of Chile, Department of Economics, vol. 34(1 Year 20), pages 53-72, June.
    • Handle: RePEc:udc:esteco:v:34:y:2007:i:1:p:53-72
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    References listed on IDEAS

    as
    1. Arellano, Manuel & Honore, Bo, 2001. "Panel data models: some recent developments," Handbook of Econometrics, in: J.J. Heckman & E.E. Leamer (ed.), Handbook of Econometrics, edition 1, volume 5, chapter 53, pages 3229-3296, Elsevier.
    2. Solange Berstein & Alejandro Micco, 2002. "Turnover and Regulation: The Chilean Pension Fund Industry," Working Papers Central Bank of Chile 180, Central Bank of Chile.
    3. Solange Berstein & José Luis Ruiz V, 2005. "Sensibilidad de la Demanda con Consumidores Desinformados: El Caso de las AFP en Chile," Working Papers 4, Superintendencia de Pensiones, revised Apr 2005.
    4. Rodrigo Cerda, 2006. "Movilidad en la Cartera de Cotizantes por AFP: La Importancia de ser Primero en Rentabilidad," Documentos de Trabajo 309, Instituto de Economia. Pontificia Universidad Católica de Chile..
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Reyes, Gonzalo, 2010. "Market design for the provision of social insurance: the case of disability and survivors insurance in Chile," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(3), pages 421-444, July.
    2. Rudolph, Heinz P. & Holtzer, Peter, 2010. "Challenges of the mandatory funded pension system in the Russian Federation," Policy Research Working Paper Series 5514, The World Bank.
    3. Gonzalo Reyes & Rubén Castro, 2008. "Medidas Pro-Competencia de la Reforma Previsional," Working Papers 29, Superintendencia de Pensiones, revised Dec 2008.
    4. David Bravo Urrutia & Olivia S. Mitchell & Petra Todd, 2007. "Learning from the Chilean Experience: The Determinants of Pension Switching," Working Papers wp266, University of Chile, Department of Economics.
    5. Luis Raul Rodriguez Reyes, 2018. "The halo effect, private knowledge and retirement fund choice: A theoretical model for the case of Mexico's Afores," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 15(2), pages 7-20, Julio-Dic.
    6. Castaneda, Pablo & Rudolph, Heinz P., 2011. "Upgrading investment regulations in second pillar pension systems : a proposal for Colombia," Policy Research Working Paper Series 5775, The World Bank.
    7. repec:idb:brikps:7677 is not listed on IDEAS

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    More about this item

    Keywords

    Sistema de pensiones; AFP; sensibilidad de la demanda; datos individuales.;
    All these keywords.

    JEL classification:

    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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