Consumer Confusion: The Choice of AfORE in Mexico
This paper was prepared for the World Bank 4th Annual Contractual Savings Conference (Washington DC, April 2008) co-organized by Gregorio Impavido (gimpavido@imf.org). The article shows that account transfers among pension administrators in Mexico barely respond to price or return considerations and...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/177 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper was prepared for the World Bank 4th Annual Contractual Savings Conference (Washington DC, April 2008) co-organized by Gregorio Impavido (gimpavido@imf.org). The article shows that account transfers among pension administrators in Mexico barely respond to price or return considerations and in general has not improved the consumer''s pension balance. Instead of strengthening competition through lower fees and higher returns for the consumer, AFORE switching has so far undermined the system and resulted in the destruction of value. Moreover, ""noisy"" evaluations of the product by the consumer tend to undermine the power of competition. Thus, an increased number of pension fund managers has not provided a more competitive environment. The theoretical framework allows for the estimation of ""noise"" and mark-ups in the AFORE industry. As the number of AFOREs increases, the mark-up diminishes at a very slow rate. This implies that more participants in the industry will hardly affect prices |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (61 p) |
| ISBN: | 1451870353 9781451870350 |
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| physical | 1 Online-Ressource (61 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Schwartz, Moisés J. Verfasser aut Consumer Confusion The Choice of AfORE in Mexico Schwartz, Moisés J Washington, D.C International Monetary Fund 2008 1 Online-Ressource (61 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/177 Includes bibliographical references This paper was prepared for the World Bank 4th Annual Contractual Savings Conference (Washington DC, April 2008) co-organized by Gregorio Impavido (gimpavido@imf.org). The article shows that account transfers among pension administrators in Mexico barely respond to price or return considerations and in general has not improved the consumer''s pension balance. Instead of strengthening competition through lower fees and higher returns for the consumer, AFORE switching has so far undermined the system and resulted in the destruction of value. Moreover, ""noisy"" evaluations of the product by the consumer tend to undermine the power of competition. Thus, an increased number of pension fund managers has not provided a more competitive environment. The theoretical framework allows for the estimation of ""noise"" and mark-ups in the AFORE industry. As the number of AFOREs increases, the mark-up diminishes at a very slow rate. This implies that more participants in the industry will hardly affect prices Online-Ausg Competition Mexico Econometric models Pension trusts Mexico Management Econometric models Electronic books Calderón-Colín, Roberto Sonstige oth Domínguez, Enrique E. Sonstige oth http://elibrary.imf.org/view/IMF001/09404-9781451870350/09404-9781451870350/09404-9781451870350.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Schwartz, Moisés J. Consumer Confusion The Choice of AfORE in Mexico Competition Mexico Econometric models Pension trusts Mexico Management Econometric models |
| title | Consumer Confusion The Choice of AfORE in Mexico |
| title_auth | Consumer Confusion The Choice of AfORE in Mexico |
| title_exact_search | Consumer Confusion The Choice of AfORE in Mexico |
| title_exact_search_txtP | Consumer Confusion The Choice of AfORE in Mexico |
| title_full | Consumer Confusion The Choice of AfORE in Mexico Schwartz, Moisés J |
| title_fullStr | Consumer Confusion The Choice of AfORE in Mexico Schwartz, Moisés J |
| title_full_unstemmed | Consumer Confusion The Choice of AfORE in Mexico Schwartz, Moisés J |
| title_short | Consumer Confusion |
| title_sort | consumer confusion the choice of afore in mexico |
| title_sub | The Choice of AfORE in Mexico |
| topic | Competition Mexico Econometric models Pension trusts Mexico Management Econometric models |
| topic_facet | Competition Mexico Econometric models Pension trusts Mexico Management Econometric models |
| url | http://elibrary.imf.org/view/IMF001/09404-9781451870350/09404-9781451870350/09404-9781451870350.xml |
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