Title

Analysis of Private Transfers with Panel Fixed Effect Censored Model Estimator

Publication Type

Journal Article

Publication Date

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

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://dx.doi.org/10.1016/s0165-1765(03)00083-1

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