Household Saving and Labor Informality: The Case of Chile
This paper compares the saving behavior of formal and informal workers and additionally provides a socioeconomic and financial characterization of informal workers in Chile. The paper uses the Financial Household Survey conducted by the Central Bank of Chile in 2007, 2008, 2009 and 2010, which covers between 1,740 and 2,533 urban households, performing both OLS and probit regressions. The cross-section regression results indicate that, in general, informal households save less than formal households. Further, descriptive data indicate that informal workers have less access to financial services and possess less financial assets and liabilities. In terms of policy implications, combating informality may not only improve the well-being of workers, but may also have positive consequences on the aggregate saving rate. In addition, for Chile, it is evident that there is ample room to improve access to financial services not only for informal but also for formal workers.
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Format: | Working Papers biblioteca |
Language: | English |
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Inter-American Development Bank
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Subjects: | Workforce and Employment, Income, Consumption and Saving, Financial Service, Household Saving, Informal Labor, Informal Economy, D10 - Household Behavior and Family Economics: General, D11 - Consumer Economics: Theory, D12 - Consumer Economics: Empirical Analysis, D91 - Intertemporal Household Choice • Life Cycle Models and Saving, O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance, O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements, Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving, |
Online Access: | http://dx.doi.org/10.18235/0011698 https://publications.iadb.org/en/household-saving-and-labor-informality-case-chile |
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dig-bid-node-122392024-05-30T20:30:06ZHousehold Saving and Labor Informality: The Case of Chile 2015-05-14T00:00:00+0000 http://dx.doi.org/10.18235/0011698 https://publications.iadb.org/en/household-saving-and-labor-informality-case-chile Inter-American Development Bank Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving This paper compares the saving behavior of formal and informal workers and additionally provides a socioeconomic and financial characterization of informal workers in Chile. The paper uses the Financial Household Survey conducted by the Central Bank of Chile in 2007, 2008, 2009 and 2010, which covers between 1,740 and 2,533 urban households, performing both OLS and probit regressions. The cross-section regression results indicate that, in general, informal households save less than formal households. Further, descriptive data indicate that informal workers have less access to financial services and possess less financial assets and liabilities. In terms of policy implications, combating informality may not only improve the well-being of workers, but may also have positive consequences on the aggregate saving rate. In addition, for Chile, it is evident that there is ample room to improve access to financial services not only for informal but also for formal workers. Inter-American Development Bank Alfredo Schclarek Mauricio Caggia Working Papers application/pdf IDB Publications Chile Latin America en |
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Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving |
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Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving Inter-American Development Bank Household Saving and Labor Informality: The Case of Chile |
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This paper compares the saving behavior of formal and informal workers and additionally provides a socioeconomic and financial characterization of informal workers in Chile. The paper uses the Financial Household Survey conducted by the Central Bank of Chile in 2007, 2008, 2009 and 2010, which covers between 1,740 and 2,533 urban households, performing both OLS and probit regressions. The cross-section regression results indicate that, in general, informal households save less than formal households. Further, descriptive data indicate that informal workers have less access to financial services and possess less financial assets and liabilities. In terms of policy implications, combating informality may not only improve the well-being of workers, but may also have positive consequences on the aggregate saving rate. In addition, for Chile, it is evident that there is ample room to improve access to financial services not only for informal but also for formal workers. |
author2 |
Alfredo Schclarek |
author_facet |
Alfredo Schclarek Inter-American Development Bank |
format |
Working Papers |
topic_facet |
Workforce and Employment Income Consumption and Saving Financial Service Household Saving Informal Labor Informal Economy D10 - Household Behavior and Family Economics: General D11 - Consumer Economics: Theory D12 - Consumer Economics: Empirical Analysis D91 - Intertemporal Household Choice • Life Cycle Models and Saving O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance O17 - Formal and Informal Sectors • Shadow Economy • Institutional Arrangements Latin America;Financial Household Survey;Chile;Labor Informality;Precautionary Saving;Life Cycle Theory;Saving |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
Household Saving and Labor Informality: The Case of Chile |
title_short |
Household Saving and Labor Informality: The Case of Chile |
title_full |
Household Saving and Labor Informality: The Case of Chile |
title_fullStr |
Household Saving and Labor Informality: The Case of Chile |
title_full_unstemmed |
Household Saving and Labor Informality: The Case of Chile |
title_sort |
household saving and labor informality: the case of chile |
publisher |
Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0011698 https://publications.iadb.org/en/household-saving-and-labor-informality-case-chile |
work_keys_str_mv |
AT interamericandevelopmentbank householdsavingandlaborinformalitythecaseofchile |
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1809107260389982208 |