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Parametric pension reform and the intensive margin of labor supply, evidence from Colombia

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Autores
Cortés Cortés, Darwin
Maldonado, Dario
Vesga Reyes, Giselle

Fecha
2015

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Editor
Universidad del Rosario

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Resumen
Abstract
We analyze the effect of a parametric reform of the fully-funded pension regime in Colombia on the intensive margin of the labor supply. We take advantage of a threshold defined by law in order to identify the causal effect using a regression discontinuity design. We find that a pension system that increases retirement age and the minimum weeks during which workers must contribute to claim pension benefits causes an increase of around 2 hours on the number of weekly worked hours; this corresponds to 4% of the average number of weekly worked hours or around 14% of a standard deviation of weekly worked hours. The effect is robust to different specifications, polynomial orders and sample sizes.
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Keywords
Labor supply , Regression discontinuity , pension system reform , Colombia
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Cortés, D., Maldonado, D., & Vesga, G. (2015). Parametric pension reform and the intensive margin of labor supply, evidence from Colombia. Bogotá: Universidad del Rosario.