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Can a small social pension promote labor force participation ? evidence from the Colombia Mayor program

Tobias Pfutze and Carlos Rodriguez Castelan
Authors registered in the RePEc Author Service: Carlos Rodríguez-Castelán

No 7516, Policy Research Working Paper Series from The World Bank

Abstract: One of the primary motivations behind the establishment of noncontributory pension programs is to allow beneficiaries to retire from the labor force. Yet, as with other unconditional cash transfer schemes, their aggregate effects may be more complex. Using panel data and instrumental variable techniques, this paper shows that the effect of one such program, Colombia Mayor, has been to raise the labor force participation of relatively younger male beneficiaries. This increase occurred precisely in the occupations with characteristics that are likely to require some up-front investment. The paper concludes that the transfer effectively loosened the liquidity constraints to remaining in these occupations. However, no such effect is found among women or older beneficiaries.

Keywords: Labor Markets; Population Policies; Poverty Monitoring&Analysis; Debt Markets; Labor Policies (search for similar items in EconPapers)
Date: 2015-12-15
New Economics Papers: this item is included in nep-age, nep-dev and nep-lam
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Can a Small Social Pension Promote Labor Force Participation? Evidence from the Colombia Mayor Program (2019) Downloads
Working Paper: Can a small social pension promote labor force participation? Evidence from the Colombia mayor program (2019) Downloads
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