Chamon, Marcos; Liu, Kai; Prasad, Eswar - In: Journal of Development Economics 105 (2013) C, pp. 164-177
sharp increase in income uncertainty, largely due to an increase in the variance in household income attributed to … rising household-specific income uncertainty as well as another shock to household income—the pension reforms that were … instituted in the late 1990s. Our calibrations suggest that rising income uncertainty and pension reforms lead younger and older …