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Full-Text Articles in Social and Behavioral Sciences
Voluntary Savings, Financial Behavior And Pension Finance Literacy: Evidence From Chile, Oscar, Claudia Martínez A.
Voluntary Savings, Financial Behavior And Pension Finance Literacy: Evidence From Chile, Oscar, Claudia Martínez A.
Claudia Martínez A.
Chileans have limited knowledge of the pension system, its rules and the consequences involved in their personal decisions within it. Using a variation in the household composition- having a pensioner in the household- as an instrument, we show that Chileans with more knowledge about the pension system are more likely to have additional financial savings, but not within the voluntary pension saving plans offered by the pension system. We find that getting one additional answer right in the pension literacy survey (out of six) generates approximately a 50% additional chance that the individual will save at least in one of …
Micro-Entrepreneurship Training And Asset Transfers: Short Term Impacts On The Poor, Claudia Martínez A., Jaime Ruiz-Tagle, Esteban Puentes
Micro-Entrepreneurship Training And Asset Transfers: Short Term Impacts On The Poor, Claudia Martínez A., Jaime Ruiz-Tagle, Esteban Puentes
Claudia Martínez A.
Using a randomized controlled trial of a large-scale publicly run micro-entrepreneurship program in Chile, we assess the effectiveness of business training and asset transfers on individuals’ employment and income. About half of the participants had not yet started their businesses at intervention, allowing us to study the program effects by baseline economic activity. To analyze the shape of the production function, two levels of asset transfers are allocated. We find that the program does significantly increase individuals’ employment and income by 18% and 32% respectively after one year and significantly improves the business practices of its beneficiaries. The program seems …