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- W2551031036 abstract "Using the Chilean Expenditure Survey I measure the impact of three factors on household consumption and savings over the period 1996-2012: i) demographic change, ii) shocks to expected income and labor risk, and iii) exogenous changes of the consumption tastes. I …nd that demographics and expected income are the main drivers of consumption. The estimated model is used to simulate the savings rates and pensions in future years, taking into account new generations, ageing and increased longevity of retired households. The Chilean pension system is projected to deliver inadequate replacement ratios, unless policy makers increase retirement age and contribution rates." @default.
- W2551031036 created "2016-11-30" @default.
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- W2551031036 date "2015-01-01" @default.
- W2551031036 modified "2023-09-22" @default.
- W2551031036 title "The long term impact of demographic change on Chilean savings and pensions" @default.
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