Publication Type
Journal Article
Version
publishedVersion
Publication Date
8-2003
Abstract
Understanding private transfer is important for safety-net policies because private transfer provides economic benefits similar to those of public programs such as unemployment insurance and pension. Applying Honoré’s [Econometrica 60 (1992) 533] panel fixed-effect censored model estimator to Korean data, we show that private transfer is altruistically motivated and there is a strong crowding-out effect of public transfer on private transfer. We also find that low-income people suffered to different degrees during the financial crisis period of 1997 to 1998. This finding and the crowding-out effect may be taken as failures of the Korean public transfer programs during the period.
Keywords
Private transfers, Public transfers, Panel data
Discipline
Econometrics
Research Areas
Econometrics
Publication
Economics Letters
Volume
80
Issue
2
First Page
233
Last Page
237
ISSN
0165-1765
Identifier
10.1016/s0165-1765(03)00083-1
Publisher
Elsevier
Citation
KANG, Sung Jin and LEE, Myoung-jae.
Analysis of Private Transfers with Panel Fixed Effect Censored Model Estimator. (2003). Economics Letters. 80, (2), 233-237.
Available at: https://ink.library.smu.edu.sg/soe_research/173
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/s0165-1765(03)00083-1