Javier Olivera

Javier Olivera
Luxembourg Institute of Socio-Economic Research | LISER · Living Conditions

PhD in Economics

About

78
Publications
18,524
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Citations
Introduction
Javier Olivera currently works at the Luxembourg Institute of Socio-Economic Research (LISER) and is Professor of Economics at the Pontificia Universidad Catolica del Peru (PUCP). Javier does research in Public Economics, Pensions, Family Transfers (bequests and inter-vivos transfers), Ageing and Wealth Inequality.
Additional affiliations
September 2017 - September 2018
Université Catholique de Louvain - UCLouvain
Position
  • Professor
September 2015 - September 2016
KU Leuven
Position
  • Professor
Description
  • Invited Professor (Advanced Publlic Economics, Master in Economics)
December 2014 - present
Pontifical Catholic University of Peru
Position
  • Professor
Education
October 2006 - September 2011
KU Leuven
Field of study
  • Economics
September 2005 - September 2006
KU Leuven
Field of study
  • Economics
September 2003 - September 2004
University of Essex
Field of study
  • Economics

Publications

Publications (78)
Article
Macroprudential policies, such as caps on loan-to-value (LTV) ratios, have become part of the policy paradigm in emerging markets and advanced countries alike. Given that housing is the most important asset in household portfolios, relaxing or tightening access to mortgages may affect the distribution of household wealth in the country. In a stylis...
Article
Full-text available
The present study estimates pension wealth inequality among elderly households for 26 EU countries by exploiting cross-sections of the EU Statistics on Income and Living Conditions survey. To assess the role of life expectancy inequalities on pension wealth, this study estimates life tables per educational level with auxiliary data in order to capt...
Article
Full-text available
This paper provides evidence that attitudes towards redistribution are associated with the extent of generosity of the redistributive context experienced by the individual, as measured by the likelihood of receiving positive benefit transfers net of fiscal contribution. We estimate reduced form tax-benefit equations with the EU Statistics on Income...
Article
Full-text available
To shed light on the quality of the ageing experience in Europe and its heterogeneity, this study adapts and computes the Active Ageing Index-an index constructed at the country level to monitor ageing quality in Europe at the individual level. This strategy allows the measuring of inequality in the experience of active ageing and is flexible enoug...
Article
Full-text available
We study attitudes towards the introduction of hypothetical new taxes to finance the cost of the COVID-19 pandemic. We rely on survey data collected in Luxembourg in 2020. The survey asks for the agreement of respondents over: a one-time net wealth tax, an inheritance tax, a temporary solidarity income tax, and a temporary increase in VAT. All ques...
Article
Full-text available
New estimates of economic flows by age combined with population projections show that in the coming decades (1) global GDP growth could be slower by about 1 percentage point per year, declining more sharply than population growth; (2) GDP will shift toward sub‐Saharan Africa more than population trends suggest; (3) living standards of working‐age a...
Preprint
Full-text available
This paper exploits the discontinuity around a welfare index of eligibility to assess the heterogeneous health impacts of Peru's social pension program Pension 65, which focuses on elderly poor individuals. The heterogeneity is analysed with regards to the treatment exposure (short vs long run), the accessibility to health care infrastructure (near...
Preprint
Full-text available
We study attitudes towards the introduction of hypothetical new taxes to finance the cost of the COVID-19 pandemic. We rely on survey data collected in Luxembourg in 2020. The survey asks for the agreement of respondents over: a one-time net wealth tax, an inheritance tax, a temporary solidarity income tax, and a temporary increase in VAT. All ques...
Technical Report
Full-text available
Esta investigación evalúa el impacto del programa Pensión 65 sobre el envejecimiento saludable mediante un diseño de regresión discontinua “Sharp”. Se usan datos de adultos mayores entre 67 y 80 años que se encuentran alrededor del umbral de pobreza extrema, diferenciados solo por su elegibilidad al programa. Observamos una mejora en los indicadore...
Technical Report
Full-text available
Peru has one of the highest number of deaths proportional to its population and a severely hit economy, even though it was one of the first countries to implement strict social distancing measures and an ambitious plan for fiscal stimulus and economic relief for households. The response of the state was mostly based on (i) various cash transfers fo...
Preprint
Full-text available
Resumen. El objetivo del presente trabajo es estudiar los posibles efectos de distintos escenarios de reforma del sistema de pensiones peruano en la deuda pública, valor de las pensiones, brecha de género y desigualdad de pensiones. Se analizan 3 modelos de reforma: i) capitalización individual puro, ii) sistema mixto basado en complementos de pens...
Preprint
Full-text available
To shed light on the effects of individual choice on pension wealth, we study a policy change to the management fees of pension funds implemented by Peru’s government in 2013. The reform established a new balance fee as a default option; this fee is calculated as a percentage of the pension balance. Each individual had the initial option of keeping...
Book
Full-text available
El objetivo del presente trabajo es estudiar los posibles efectos de distintos escenarios de reforma del sistema de pensiones peruano en la deuda pública, valor de las pensiones, brecha de género y desigualdad de pensiones. Se analizan 3 modelos de reforma: i) capitalización individual puro, ii) sistema mixto basado en complementos de pensión (top...
Preprint
Full-text available
This paper provides evidence that attitudes towards redistribution are associated with the extent of generosity of the redistributive context experienced by the individual, as measured by the likelihood of receiving positive benefit transfers net of fiscal contribution. We estimate reduced form tax-benefit equations with the EU Statistics on Income...
Article
Full-text available
We study gender differences on cognitive functioning among older adults living in poverty. The data come from the Survey of Health and Wellbeing of the Elderly (ESBAM) which is the baseline survey to evaluate the Peru’s social pension program Pension 65. The results show that females are better off than males regarding episodic memory, but worse of...
Experiment Findings
Full-text available
El estudio evalúa los efectos potenciales (análisis de intención de tratamiento) de Pensión 65 en el estado de salud subjetiva y objetiva, las capacidades físicas, el estado de nutrición, el bienestar psicológico y social y la presencia de enfermedades crónicas. Además, se exploran los posibles mecanismos que puedan explicar los efectos (o la ausen...
Preprint
Full-text available
We study a policy change to the management fees of pension funds that the Government of Peru implemented in 2013 to shed light on the effects of individual choices on pension wealth. The reform established a new balance fee (default option) that is a percentage of the pension balance unless the individual opts to remain with the current load factor...
Article
Full-text available
Maintaining cognitive function is a prerequisite of living independently, which is a highly valued component in older individuals’ wellbeing. In this paper we assess the role of early-life and later-life nutritional status, education and literacy on the cognitive functioning of older adults living in poverty in Peru. We exploit the baseline sample...
Article
Full-text available
Although cohort and country differences in average cognitive levels are well established, identifying the degree and determinants of inequalities in old age cognitive functioning could guide public health and policy making efforts. We use all publicly available and representative old age surveys with comparable information to assess inequalities of...
Chapter
Full-text available
This chapter studies the differences in active ageing across cohorts and countries in Europe. This is done with the replication of the Active Ageing Index for cohorts formed by age group, sex and country for 2012. The analysis is performed with different model regressions at the cohort level and introducing macro variables at the country level. In...
Article
Full-text available
The recent emergence and expansion of non-contributory pension programmes across low- and middle-income countries responds and contributes to a larger attention towards the population of elderly individuals in developing countries. These programmes are intended to reduce poverty in old age by providing monetary transfers in mean-tested schemes. How...
Chapter
Full-text available
Although it is heartening to see wealth inequality being taken seriously, key concepts are often muddled, including the distinction between income and wealth, what is included in "wealth", and facts about wealth distributions. This chapter highlights issues that arise in making ideas and facts about wealth inequality precise, and employs newly-avai...
Chapter
Full-text available
1. Introducción En la literatura económica, el modelo del ciclo de vida predice que los individuos acumulan diferentes formas de ahorros durante la vida laboral con el objeto de inanciar el consumo que tendrán durante la etapa del retiro. La transición entre la etapa laboral y la de jubilación no puede ser muy drástica, es decir el consumo entre am...
Article
This paper studies pension insecurity in a sample of non-retired individuals aged 50 years or older from 18 European countries. We capture pension insecurity with the subjective expectations on the probability that the government will reduce the pensions of the individual before retirement or will increase the statutory retirement age. We argue tha...
Article
This paper explores the patterns of the division of inter-vivos financial transfers from old parents to adult children in a sample of 14 European countries drawn from two waves of the Survey of Health, Ageing, and Retirement in Europe. Contrary to previous research, mostly focused on the US, this study finds a higher number of parents who divide th...
Article
This paper studies the potential effects of a multi-pillar pension system on pension inequality, actuarial liability and welfare in Peru, by means of simulations of future distributions of pensions with social security administrative records. The results show that actual pension inequality and actuarial liability can be substantially reduced with w...
Article
This study investigated the determinants of Successful Ageing (SA) in a sample of 4,151 Peruvians aged between 65 and 80 years and living in poverty. A key contribution of this study is to combine the conceptual appeal of SA to measure well-being in old age with the multi-dimensional poverty counting approach developed in the economic literature. T...
Working Paper
This paper explores the patterns of the division of inter-vivos financial transfers from old parents to adult children in a sample of 14 European countries drawn from two waves of the Survey of Health, Ageing, and Retirement in Europe. Contrary to previous research, mostly focused on the US, this study finds a higher number of parents who divide th...
Article
Full-text available
This article estimates and analyses the potential fiscal and distributive effects of a proposal to transform the current Peruvian pension system into a multi-pillar pension system. In this new system, part of the contributions would go to a solidarity fund to finance minimum pensions, and the rest to individual retirement accounts. The simulation o...
Article
Full-text available
This article estimates and analyses the potential fiscal and distributive effects of a proposal to transform the current Peruvian pension system into a multi-pillar pension system. In this new system, part of the contributions would go to a solidarity fund to finance minimum pensions, and the rest to individual retirement accounts. The simulation o...
Chapter
Full-text available
The aim of this chapter is to highlight some key aspects of recent economic research on the welfare state and antipoverty policy in rich countries and to explore their implications. We begin with the conceptualization and measurement of poverty before sketching out some core features and approaches to the welfare state and antipoverty policies. We...
Article
Full-text available
This paper analyses the determinants of trust in a pool of 34 European countries over the period 2002–2012. We find that income inequality is negatively related with generalized trust when we analyze the pooled data of individuals with multilevel models, confirming a well-established result in the analysis of cross-country differences in trust. How...
Article
Full-text available
This paper uses pseudo panel techniques and a fixed effects estimator to analyse the determinants of preferences for redistribution in 34 European countries over the period 2002–2012. The data is drawn from the six available waves of the European Social Survey. The main result is that changes in income inequality positively affect changes in prefer...
Conference Paper
Full-text available
The goal of this paper is to study and explain the differences in wellbeing in old age across cohorts and countries in Europe. This is done with the replication of the Active Ageing Index for cohorts formed by age group, sex and country for 2012. The analysis is performed with different model regressions at the cohort level and introducing macro va...
Chapter
Full-text available
The current situation of the elderly in Peru, a population showing continuous growth, reflects the extension of the living conditions they experience during their economically active periods to their elderly years. A significant portion of this population faces a situation of unmet needs and difficulties sustaining themselves economically, which li...
Conference Paper
Full-text available
This study investigated the determinants of Successful Ageing (SA) in a sample of 4,151 Peruvians aged between 65 and 80 years and living in poverty. A key contribution of this study is to combine the conceptual appeal of SA to measure well-being in old age with the multi-dimensional poverty counting approach developed in the economic literature. T...
Article
Full-text available
This paper analyses the effects of the recent Economic Crisis on individual preferences for redistribution in 23 European countries. After implementing a decomposition of the variation in these preferences, it is showed that the crisis was highly significant in increasing support for redistribution. It is found that more unemployment and, in partic...
Article
Full-text available
Longer lives and fertility far below the replacement level of 2.1 births per woman are leading to rapid population aging in many countries. Many observers are concerned that aging will adversely affect public finances and standards of living. Analysis of newly available National Transfer Accounts data for 40 countries shows that fertility well abov...
Article
This paper studies the ex-ante effects of the implementation of a non-contributory pension (NCP) programme in Colombia and Peru. Relying on household survey data, we simulate the transfer's potential impact on poverty, inequality, fiscal cost and the probability of affiliation to contributory pensions. Our results show that an NCP reduces poverty a...
Article
Full-text available
Este estudio presenta la estimación del ciclo de vida para Perú con datos del año 2007 dentro del marco del proyecto sobre Cuentas Nacionales de Transferencias (CNT). Las CNT son una herramienta útil para monitorear el alcance del llamado bono demográfico mediante la construcción de la tasa de dependencia económica (TDE) y un criterio adicional par...
Article
Full-text available
El presente documento busca, en primer lugar, realizar una caracterización de las condiciones socioeconómicas de la población de adultos mayores en el Perú con énfasis en la situación de pobreza y desprotección social de este segmento de población. El análisis de la Encueta Nacionalde Hogares (Enaho) 2011 revela que la mayor cantidad de personas ma...
Article
Full-text available
This paper is prepared as a chapter for the Handbook of Income Distribution, Volume 2 (edited by A. B. Atkinson and F. Bourguignon, Elsevier-North Holland, forthcoming). Like the other chapters in the volume (and its predecessor), the aim is to provide a comprehensive review of a particular area of research. The aim of this chapter is to highlight...
Working Paper
This paper analyses the effects of retirement on cognitive abilities for the elderly poor on the basis of the “mental retirement” effect that accompanies retirement. Given the recent emergence and expansion of non-contributory pension programs to alleviate poverty in old-age across low and middle income countries, attention should be given to the p...
Conference Paper
Full-text available
The aim of this paper is to study the ex-ante effects of the implementation of a Non Contributory Pension (NCP) program in Colombia and Peru. Relying on household survey data from both countries, we simulate the potential impact of the transfer on poverty, inequality, fiscal cost, and the probability of affiliation to the contributory pension syste...
Chapter
Full-text available
La situación actual de los adultos mayores, población en sostenido crecimiento, refleja una traslación intertemporal de las condiciones de vida experimentadas por esta población en su etapa activa. Una importante proporción de la misma se encuentra en situación de carencias y dificultades de sustento económico, lo que les impiden retirarse del merc...
Chapter
Full-text available
The aim of this paper is to asses the role of old-age family arrangements and life-cycle considerations in the enrolment and contribution behaviour to the pension system. A rich Peruvian dataset on beliefs, preferences and attitudes to risk, allows us to find econometric evidence -with a multinomial logit model-suggesting that both dimensions are c...
Working Paper
In the extensively studied equal division puzzle, one finds very large shares of equal bequests and unequal inter-vivos transfers given to adult children. However, such puzzle is less evident in Europe as we find a higher prevalence of parents giving equal inter-vivos transfers. We argue that altruistic parents are also concerned with norms of equa...
Working Paper
The distributional impact of the structural pension reform in Latin American countries has been largely absent in the economic debate. However, this reform may widen inequality in old‐age and reduce welfare. In this paper we study the consequences of implementing a multi‐pillar system in one of these countries. We take advantage of available admini...
Article
Full-text available
ResumenLa cobertura es un aspecto importante en el diseño de la protección social. En el Perú, al igual que en la mayor parte de los países de América Latina, la cobertura de la seguridad social sólo es obligatoria para los trabajadores del sector formal. El presente artículo investiga los factores que determinan la afiliación voluntaria al sistema...
Article
Full-text available
RésuméUn aspect important de la conception de la protection sociale est la couverture. Au Pérou, comme dans la plupart des pays latino-américains, la couverture de la sécurité sociale n'est obligatoire que pour les travailleurs du secteur formel. Les auteurs du présent article ont étudié les déterminants de l'affiliation volontaire au régime de ret...
Article
Full-text available
AuszugEin wichtiger Aspekt bei der Gestaltung des Sozialschutzes ist die Deckung. Wie in den meisten lateinamerikanischen Ländern ist die Deckung durch die soziale Sicherheit in Peru nur für Arbeitnehmer im formellen Sektor obligatorisch. Dieser Beitrag untersucht die Faktoren für eine freiwillige Mitgliedschaft in Perus Individualkonten-Rentensyst...
Article
One important aspect in the design of social protection is coverage. In Peru, as in most Latin American countries, social security coverage is mandatory only for workers in the formal sector. This article investigates the determinants of voluntary affiliation to Peru's individual accounts pension system. It is found that married males with more tha...
Working Paper
We find a high prevalence of Europeans giving equal financial transfers to their adult children, regardless of siblings' income differences. This behaviour is sharply different from previously documented for American counterparts and it is not predicted by any conventional model on family transfers. We build a model to explain the motives for Europ...
Article
Full-text available
One of the important aspects in the design of social protection is coverage. In Peru, as in most Latin American countries, social security participation is compulsory only for workers in the ‘formal’ sector. We investigate the determinants of voluntary enrolment in the private pension system in Peru. We found that a selected group of people i.e. ma...
Article
Full-text available
One of the important aspects in the design of social protection is coverage. In Peru, as in most Latin American countries, social security participation is compulsory only for workers in the formal sector. There is a large sector of the population for which participation is voluntary. This paper investigates the determinants of enrolment to the pen...

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