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dc.contributor.authorBerriel, Tiago Couto
dc.contributor.authorZilberman, Eduardo
dc.date.accessioned2011-12-14T16:16:25Z
dc.date.available2011-12-14T16:16:25Z
dc.date.issued2011-12-14
dc.identifier.issn0104-8910
dc.identifier.urihttp://hdl.handle.net/10438/8846
dc.description.abstractThis 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.eng
dc.language.isoeng
dc.publisherFundação Getulio Vargas. Escola de Pós-graduação em Economiapor
dc.relation.ispartofseriesEnsaios Econômicos;726por
dc.subjectIncomplete marketspor
dc.subjectCash transfer programspor
dc.subjectPrecautionary savingspor
dc.titleTargeting the poor: a macroeconomic analysis of cash transfer programseng
dc.typeWorking Papereng
dc.subject.areaEconomiapor
dc.contributor.unidadefgvEscolas::EPGEpor
dc.subject.bibliodataEconomiapor
dc.subject.bibliodataDesenvolvimento econômicopor
dc.contributor.affiliationFGV


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