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General Equilibrium Effects of Cash Transfers: Experimental Evidence From Kenya

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Název: General Equilibrium Effects of Cash Transfers: Experimental Evidence From Kenya
Autoři: Egger, Dennis, Haushofer, Johannes, Miguel, Edward, Niehaus, Paul, Walker, Michael
Zdroj: Econometrica. 90(6):2603-2643
Témata: Cash transfers, spillover effects, transfer multiplier, Kenya
Popis: How large economic stimuli generate individual and aggregate responses is a central question in economics, but has not been studied experimentally. We provided one-time cash transfers of about USD 1000 to over 10,500 poor households across 653 randomized villages in rural Kenya. The implied fiscal shock was over 15 percent of local GDP. We find large impacts on consumption and assets for recipients. Importantly, we document large positive spillovers on non-recipient households and firms, and minimal price inflation. We estimate a local transfer multiplier of 2.5. We interpret welfare implications through the lens of a simple household optimization framework.
Popis souboru: print
Přístupová URL adresa: https://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-213147
https://doi.org/10.3982/ECTA17945
Databáze: SwePub
Popis
Abstrakt:How large economic stimuli generate individual and aggregate responses is a central question in economics, but has not been studied experimentally. We provided one-time cash transfers of about USD 1000 to over 10,500 poor households across 653 randomized villages in rural Kenya. The implied fiscal shock was over 15 percent of local GDP. We find large impacts on consumption and assets for recipients. Importantly, we document large positive spillovers on non-recipient households and firms, and minimal price inflation. We estimate a local transfer multiplier of 2.5. We interpret welfare implications through the lens of a simple household optimization framework.
ISSN:00129682
14680262
DOI:10.3982/ECTA17945