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.
|Translated title of the contribution||Reforma Paramétrica de Pensiones y el Margen Intensivo de la Oferta Laboral, Evidencia desde Colombia|
|Original language||English (US)|
|Number of pages||17|
|State||Published - 2015|