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General Equilibrium Effects of Cash Transfers: Experimental Evidence from Kenya / Dennis Egger, Johannes Haushofer, Edward Miguel, Paul Niehaus, Michael W. Walker.
- Format:
- Book
- Author/Creator:
- Egger, Dennis.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26600.
- NBER working paper series no. w26600
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- General Equilibrium Effects of Cash Transfers
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- 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 2.4. We interpret welfare implications through the lens of a simple household optimization framework.
- Notes:
- Print version record
- December 2019.
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