Macroeconomic Determinants of the Average Balance in Retirement Accounts in Mexico
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| Format: | Artículo científico |
| Langue: | en |
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Universidad Autónoma Metropolitana
2022
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| _version_ | 1876457989609619456 |
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| author | Gerardo Angeles Castro |
| author_facet | Gerardo Angeles Castro |
| contents | Macroeconomic Determinants of the Average Balance in Retirement Accounts in Mexico Gerardo Angeles Castro Lillian Marlen Centeno Cruz Pilar Campoy Muñoz Economía y Finanzas C22 E21 H55 J26 Mexico Average retirement saving in Mexico is persistently low, the causes are not only microeconomic but also macroeconomic, the latter have been rarely studied in the literature for emerging economies. This paper is aimed at exploring the macroeconomic determinants of average retirement saving in Mexico. We use times series data in monthly bases, from January 2009 to December 2020, and find that economic activity, stock market and real average wage have a positive impact on average retirement saving, while formal employment and the dependency ratio reduce it. The impact of the economic activity is transmitted through employment and real wage. The results provide new insights to design actions and policies to enhance the benefits of macroeconomic variables on the balance of retirement saving. 2022 artículo científico 0185-3937 https://www.redalyc.org/articulo.oa?id=41370350003 https://www.redalyc.org/journal/413/41370350003/ https://www.redalyc.org/journal/413/41370350003/html/ https://www.redalyc.org/journal/413/41370350003/41370350003.epub https://www.redalyc.org/journal/413/41370350003/movil 10.7440/res64.2018.03 en http://www.redalyc.org/revista.oa?id=413 Análisis Económico application/pdf Universidad Autónoma Metropolitana Análisis Económico (México) Num.94 Vol.XXXVII |
| format | Artículo científico |
| id | redalyc_41370350003 |
| institution | Redalyc |
| language | en |
| publishDate | 2022 |
| publisher | Universidad Autónoma Metropolitana |
| spellingShingle | Macroeconomic Determinants of the Average Balance in Retirement Accounts in Mexico Gerardo Angeles Castro Economía y Finanzas C22 E21 H55 J26 Mexico Macroeconomic Determinants of the Average Balance in Retirement Accounts in Mexico Gerardo Angeles Castro Lillian Marlen Centeno Cruz Pilar Campoy Muñoz Economía y Finanzas C22 E21 H55 J26 Mexico Average retirement saving in Mexico is persistently low, the causes are not only microeconomic but also macroeconomic, the latter have been rarely studied in the literature for emerging economies. This paper is aimed at exploring the macroeconomic determinants of average retirement saving in Mexico. We use times series data in monthly bases, from January 2009 to December 2020, and find that economic activity, stock market and real average wage have a positive impact on average retirement saving, while formal employment and the dependency ratio reduce it. The impact of the economic activity is transmitted through employment and real wage. The results provide new insights to design actions and policies to enhance the benefits of macroeconomic variables on the balance of retirement saving. 2022 artículo científico 0185-3937 https://www.redalyc.org/articulo.oa?id=41370350003 https://www.redalyc.org/journal/413/41370350003/ https://www.redalyc.org/journal/413/41370350003/html/ https://www.redalyc.org/journal/413/41370350003/41370350003.epub https://www.redalyc.org/journal/413/41370350003/movil 10.7440/res64.2018.03 en http://www.redalyc.org/revista.oa?id=413 Análisis Económico application/pdf Universidad Autónoma Metropolitana Análisis Económico (México) Num.94 Vol.XXXVII |
| title | Macroeconomic Determinants of the Average Balance in Retirement Accounts in Mexico |
| topic | Economía y Finanzas C22 E21 H55 J26 Mexico |
| url | https://www.redalyc.org/articulo.oa?id=41370350003 https://www.redalyc.org/journal/413/41370350003/ https://www.redalyc.org/journal/413/41370350003/html/ https://www.redalyc.org/journal/413/41370350003/41370350003.epub https://www.redalyc.org/journal/413/41370350003/movil |