Measuring the degree of competition in the Afores market: application of the NOIE's non-parametric approach
Abstract
This article studies competition among Pension Fund Administrators in Mexico. It uses the non-parametric approach from the New Empirical Industrial Organization analysis proposed by Panzar and Rosse (1987) to estimate the degree of competition in this industry. It uses yearly financial information available from Comisión Nacional del Sistema de Ahorro para el Retiro from 2012 to 2018. Main findings from this article indicate that in these years this industry (1) may have behaved as a cartel, and (2) is in a long-run equilibrium.
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