Emerging Markets Finance and Trade, Vol. 50, No. 5, pp. 6 - 21, Septiembre, 2014
es_ES
Identifier
dc.identifier.issn
1540496X
Identifier
dc.identifier.other
10.2753/REE1540-496X5005S501
Identifier
dc.identifier.uri
https://repositorio.uchile.cl/handle/2250/143230
Abstract
dc.description.abstract
This study utilizes a variable derived from the Annuity Equivalent Wealth dynamic programming model developed by Brown (2001) and Mitchell et al. (1999). The model captures the benefits of having access to the annuity market. Using a unique data set of retirees from the Chilean labor market to analyze the empirical determinants of annuity choice, the study finds that sales agent contact, good health status, knowledge about the pension system, and greater education are associated with an increase in the probability of annuitization.