Purpose Focusing on the conditional cash transfers (CCTs) first created and implemented in Brazil Mexico, this article takes a new look at factors facilitating creation of these innovative policies. In order to shed light continuous struggles that are faced when pioneering, formulating adopting anti-poverty policies, authors analyze three types ambiguities: axiological, partisan electoral. Desi...

Abstract: In this paper, we consider compositions of conditional risk measures in order to obtain time-consistent dynamic risk measures and determine the solvency capital of a life insurer selling pension liabilities or a pension fund with a single cash-flow at maturity. We first recall the notion of conditional, dynamic and time-consistent risk measures. We link the latter with its iterated pr...

We construct a new, direct measure of female autonomy in household decision-making by creating an index from the principal components of a variety of household decision variables. We find that greater autonomy for mothers leads to better secondary education for boys, but not girls. For identification, we argue that given the migration pattern and motivation in Mexico, relative geographic proxim...

— We develop a conceptual framework elucidating the main determinants of the impact of Conditional Cash Transfer (CCT) and Payments for Environmental Services (PES) programs. Using a simple multi-agent model and evaluations of existing programs, we show that (1) the share of the population who would meet the program’s conditions in the absence of payments is a powerful predictor of program effi...

Conditional Cash Transfer (CCT) programs have proven to be an important way to alleviate poverty in the developing world. In Brazil, much attention has been paid to the Bolsa-Escola and Bolsa-Família programs, which provide the benefits to poor families in order to keep children attaining school and avoiding child labor, among other goals. The BPC program, however, is a pension scheme addressed...