Household Saving and Labor Informality: The Case of Chile

Arbeitspapier

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.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IDB Working Paper Series ; No. IDB-WP-581

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Household Behavior: General ; Consumer Economics: Theory ; Consumer Economics: Empirical Analysis ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
• Thema: Saving ; Precautionary Saving ; Labor Informality ; Financial Household Survey ; Life Cycle Theory ; Chile ; Latin America

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schclarek, Alfredo ; Caggia, Mauricio
• Ereignis: Veröffentlichung
• (wer): Inter-American Development Bank (IDB)
• (wo): Washington, DC
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/115529
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ