Targeting the poor: a macroeconomic analysis of cash transfer programs

Detalhes bibliográficos
Autor(a) principal: Berriel, Tiago Couto
Data de Publicação: 2011
Outros Autores: Zilberman, Eduardo
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/8846
Resumo: This paper introduces cash transfers targeting the poor in an incomplete markets model with heterogeneous agents facing idiosyncratic risk. These transfers change the degree of insurance in the economy and affect precautionary motives asymmetrically, leading the poorest households to decrease savings proportionally more than their richer counterparts. In a model economy calibrated to Brazil, once the cash transfer program is adopted, wealth inequality and social welfare increase, poverty decreases, while employment and income inequality remain about the same. Imperfect access to financial markets is important for these results, whereas whether the program is funded with lump sum or distortive taxes is not.
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spelling Berriel, Tiago CoutoZilberman, EduardoEscolas::EPGEFGV2011-12-14T16:16:25Z2011-12-14T16:16:25Z2011-12-140104-8910http://hdl.handle.net/10438/8846This paper introduces cash transfers targeting the poor in an incomplete markets model with heterogeneous agents facing idiosyncratic risk. These transfers change the degree of insurance in the economy and affect precautionary motives asymmetrically, leading the poorest households to decrease savings proportionally more than their richer counterparts. In a model economy calibrated to Brazil, once the cash transfer program is adopted, wealth inequality and social welfare increase, poverty decreases, while employment and income inequality remain about the same. Imperfect access to financial markets is important for these results, whereas whether the program is funded with lump sum or distortive taxes is not.engFundação Getulio Vargas. Escola de Pós-graduação em EconomiaEnsaios Econômicos;726Incomplete marketsCash transfer programsPrecautionary savingsEconomiaEconomiaDesenvolvimento econômicoTargeting the poor: a macroeconomic analysis of cash transfer programsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessLICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/a24e58fa-35b1-4faa-938b-7bb2973c4410/downloaddfb340242cced38a6cca06c627998fa1MD52TEXTTargeting-the-Poor-A-Macroeconomic-Analysis-of-Cash.pdf.txtTargeting-the-Poor-A-Macroeconomic-Analysis-of-Cash.pdf.txtExtracted 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dc.title.eng.fl_str_mv Targeting the poor: a macroeconomic analysis of cash transfer programs
title Targeting the poor: a macroeconomic analysis of cash transfer programs
spellingShingle Targeting the poor: a macroeconomic analysis of cash transfer programs
Berriel, Tiago Couto
Incomplete markets
Cash transfer programs
Precautionary savings
Economia
Economia
Desenvolvimento econômico
title_short Targeting the poor: a macroeconomic analysis of cash transfer programs
title_full Targeting the poor: a macroeconomic analysis of cash transfer programs
title_fullStr Targeting the poor: a macroeconomic analysis of cash transfer programs
title_full_unstemmed Targeting the poor: a macroeconomic analysis of cash transfer programs
title_sort Targeting the poor: a macroeconomic analysis of cash transfer programs
author Berriel, Tiago Couto
author_facet Berriel, Tiago Couto
Zilberman, Eduardo
author_role author
author2 Zilberman, Eduardo
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Berriel, Tiago Couto
Zilberman, Eduardo
dc.subject.por.fl_str_mv Incomplete markets
Cash transfer programs
Precautionary savings
topic Incomplete markets
Cash transfer programs
Precautionary savings
Economia
Economia
Desenvolvimento econômico
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
Desenvolvimento econômico
description This paper introduces cash transfers targeting the poor in an incomplete markets model with heterogeneous agents facing idiosyncratic risk. These transfers change the degree of insurance in the economy and affect precautionary motives asymmetrically, leading the poorest households to decrease savings proportionally more than their richer counterparts. In a model economy calibrated to Brazil, once the cash transfer program is adopted, wealth inequality and social welfare increase, poverty decreases, while employment and income inequality remain about the same. Imperfect access to financial markets is important for these results, whereas whether the program is funded with lump sum or distortive taxes is not.
publishDate 2011
dc.date.accessioned.fl_str_mv 2011-12-14T16:16:25Z
dc.date.available.fl_str_mv 2011-12-14T16:16:25Z
dc.date.issued.fl_str_mv 2011-12-14
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/8846
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/8846
dc.language.iso.fl_str_mv eng
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dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;726
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
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