General Equilibrium Effects of Cash Transfers: Experimental Evidence From Kenya

نویسندگان

چکیده

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 rural Kenya. The implied fiscal shock was 15 percent local GDP. find impacts on consumption assets for recipients. Importantly, we document positive spillovers non?recipient firms, minimal price inflation. estimate transfer multiplier 2.5. interpret welfare implications through the lens simple household optimization framework.

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ژورنال

عنوان ژورنال: Econometrica

سال: 2022

ISSN: ['0012-9682', '1468-0262']

DOI: https://doi.org/10.3982/ecta17945