Distributional Policy Effects with Many Treatment Outcomes

Cañón Salazar Carlos Iván

No 2016-01, Working Papers from Banco de México

Abstract: Different segments of a population affected by the same policy intervention may have different responses. We study the role of equilibrium effects on explaining these differences. Our case study is the government's extension of guarantees during the Great Recession to certain debt issuers. We extend Athey and Imbens [2006] to a scenario of multiple outcome variables, and identify the counterfactual joint distribution. We find the intervention increased the funding for the treated segments, but at the cost of higher spreads. Finally, these equilibrium effects operate dissimilarly along the segments of the treated group, in the extreme, can produce undesired effects.

Keywords: Interventions; Stigma; Identification; Nonlinear Difference-In-Difference; Copulas (search for similar items in EconPapers)
JEL-codes: C24 C4 G01 G23 G28 (search for similar items in EconPapers)
Date: 2016-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.banxico.org.mx/publications-and-press/ ... -F5AC8743E7E4%7D.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bdm:wpaper:2016-01

Access Statistics for this paper

More papers in Working Papers from Banco de México Contact information at EDIRC.
Bibliographic data for series maintained by Subgerencia de desarrollo de sistemas ().