Macro-perspective on Asset Grants Programs: Occupational and Wealth Mobility

Francisco Buera, Joseph Kaboski and Yongseok Shin

American Economic Review, 2014, vol. 104, issue 5, 159-64

Abstract: We provide a simple quantitative general equilibrium model of occupational choice with credit market frictions to analyze the aggregate and distributional effects of asset transfer programs. Asset transfer programs have a positive but transient effect on aggregate productivity, and a negative impact on the aggregate capital stock. On net they have a negative but small effect on per capita income. The effects are very heterogeneous across treated individuals. We compare the results in our model to those from recent randomized control trials and historical natural experiments.

JEL-codes: H23 J24 J62 (search for similar items in EconPapers)
Date: 2014
Note: DOI: 10.1257/aer.104.5.159
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Citations: View citations in EconPapers (22)

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