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

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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

Keywords

  • Panel data
  • Private transfers
  • Public transfers

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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