Analysis of private transfers with panel fixed-effect censored model estimator

Research output: Contribution to journalArticle

9 Citations (Scopus)

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.

Original languageEnglish
Pages (from-to)233-237
Number of pages5
JournalEconomics Letters
Volume80
Issue number2
DOIs
Publication statusPublished - 2003 Aug 1
Externally publishedYes

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Estimator
Fixed effects
Censored models
Private transfers
Public transfers
Crowding-out effect
Pensions
Financial crisis
Safety net
Economic benefits
Unemployment insurance
Low income

Keywords

  • Panel data
  • Private transfers
  • Public transfers

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Analysis of private transfers with panel fixed-effect censored model estimator. / Kang, Sung Jin; Lee, Myoung-jae.

In: Economics Letters, Vol. 80, No. 2, 01.08.2003, p. 233-237.

Research output: Contribution to journalArticle

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