Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile

We show statistical evidence that pension fund withdrawals and the Emergency Family Income (EFI) increased the likelihood that a laid off construction worker would reject a proposal for a formal employment contract. This favors the hypothesis that pension fund withdrawals and government subsidies re...

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Autores principales:	Byron J. Idrovo-Aguirre, Javier E. Contreras-Reyes
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	pension funds emergency family income policy decision-making construction activity logit model Chile Social Sciences H
Acceso en línea:	https://doaj.org/article/fd709473d2e043fdb649f75e4109146d
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spelling	oai:doaj.org-article:fd709473d2e043fdb649f75e4109146d2021-11-25T18:59:41ZMonetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile10.3390/socsci101104172076-0760https://doaj.org/article/fd709473d2e043fdb649f75e4109146d2021-11-01T00:00:00Zhttps://www.mdpi.com/2076-0760/10/11/417https://doaj.org/toc/2076-0760We show statistical evidence that pension fund withdrawals and the Emergency Family Income (EFI) increased the likelihood that a laid off construction worker would reject a proposal for a formal employment contract. This favors the hypothesis that pension fund withdrawals and government subsidies related to the health crisis have, to some extent, contributed to the shortage of formal labor in the construction sector. Based on estimations of the logit model, we found that rejection probability increased with work experience (approximated by the worker’s age). For example, the probability of not accepting a formal contract for a highly experienced worker, who withdrew funds from their mandatory private Pension Fund Administrator and received the EFI, increased by 28%. The figure is approximately 2.5 times the rejection probability of a worker with the same experience but without having received this additional income.Byron J. Idrovo-AguirreJavier E. Contreras-ReyesMDPI AGarticlepension fundsemergency family incomepolicy decision-makingconstruction activitylogit modelChileSocial SciencesHENSocial Sciences, Vol 10, Iss 417, p 417 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	pension funds emergency family income policy decision-making construction activity logit model Chile Social Sciences H
spellingShingle	pension funds emergency family income policy decision-making construction activity logit model Chile Social Sciences H Byron J. Idrovo-Aguirre Javier E. Contreras-Reyes Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
description	We show statistical evidence that pension fund withdrawals and the Emergency Family Income (EFI) increased the likelihood that a laid off construction worker would reject a proposal for a formal employment contract. This favors the hypothesis that pension fund withdrawals and government subsidies related to the health crisis have, to some extent, contributed to the shortage of formal labor in the construction sector. Based on estimations of the logit model, we found that rejection probability increased with work experience (approximated by the worker’s age). For example, the probability of not accepting a formal contract for a highly experienced worker, who withdrew funds from their mandatory private Pension Fund Administrator and received the EFI, increased by 28%. The figure is approximately 2.5 times the rejection probability of a worker with the same experience but without having received this additional income.
format	article
author	Byron J. Idrovo-Aguirre Javier E. Contreras-Reyes
author_facet	Byron J. Idrovo-Aguirre Javier E. Contreras-Reyes
author_sort	Byron J. Idrovo-Aguirre
title	Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
title_short	Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
title_full	Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
title_fullStr	Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
title_full_unstemmed	Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile
title_sort	monetary fiscal contributions to households and pension fund withdrawals during the covid-19 pandemic: an approximation of their impact on construction labor supply in chile
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/fd709473d2e043fdb649f75e4109146d
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Monetary Fiscal Contributions to Households and Pension Fund Withdrawals during the COVID-19 Pandemic: An Approximation of Their Impact on Construction Labor Supply in Chile

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