Economic Risks, The Labour Market, and Older Workers in Latin America

Abstract

This paper examines the economic status and labour supply of older workers in Chile. It examines the extent to which the labour market is an important source of economic risk diversification for older workers and their households, and the influence of alternative sources- the family, social security, and accumulated assets. The main findings are firstly that there are important differences by age and sex in the extent to which the labour market performs this insurance function. Secondly, that self-employment is important among older workers, it extends labour market attachment, and constitutes a distinct transition path for older workers. And thirdly that household size and structure, and social security institutions are key determinants of older workers' labour market participation.