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Rivas Aceves, Salvador
The Importance of Health and Social Protection Assets in the Economic Welfare of Households in Mexico
Contagion Adverse Degree, Income Inequality and Economic Growth
2023
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De la Torre-Diaz, Lorena
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RodrÃguez Aguilar, Román
,
Rivas Aceves, Salvador
This paper seeks determines how the possession of health and social protection assets affects the probability of a household belonging to a given quintile of a proposed asset ownership index. An ordered logistic regression model was constructed. As a dependent variable, the quintile of each household was used according to the index. This research is based on 48 explanatory variables from the 2020 National Income and Expenses Survey. It confirms that health and social protection assets are relevant in the location of households in a quintile according to its socioeconomic condition. Estimated marginal effects and predictions for every quintile, show that the effect of the assets varies according to the quintile. Ownership of specific assets increase the likelihood of belonging to the higher quintiles. The possession of a voluntary pension fund is the most relevant asset. The empirical results obtained may contribute to design more efficient inequality-reducing public policies by promoting its acquisition and thereby encouraging social mobility. Main limitations of this research are related with the small number of health and social-protection related variables in the survey. ©Revista Mexicana de EconomÃa y Finanzas
2021
,
Rivas Aceves, Salvador
By introducing the effects of the pandemic into an endogenous economic growth model, with a financial system, among human, physical and financial capitals, diminishing returns, constant scale effects and heterogenic agents, the impact by the contagion adverse degree in households is modelled. Results are: a) contagion adverse degree affects intertemporal marginal substitution rate of households and production process for industry; b) short and long run economic growth rate are also affected by the contagion adverse degree of households; c) human capital growth rate and distribution dynamics relies on contagion adverse degree as well; d) in the absent of a financial system, poor households will allocate less time to leisure if they want to consume more or increase human capital or both when the contagion adverse degree is low, and viceversa; e) physical and human capital ratio of the economy relies only in one sector when there is none financial system. Consequently, economic growth rate is lower since only one sector performs production activities while having a contagion adverse degree low; f) rises in output or decreases in salary due to the contagion adverse degree lead to increases in inequality; g) inequality decreases when human capital goes up; h) physical capital generates small and positive changes in inequality; i) financial capital causes positive impacts on inequality; j) inequality decreases if total multifactorial productivity increases; k) macroeconomic equilibrium depends in negative ways because of contagion adverse degree. © Springer Nature