Lokshin, Michael; Ravallion, Martin; Torre, Iván - National Bureau of Economic Research - 2022
The claim that social protection is a luxury good--with a national income elasticity exceeding unity--has as been … influential. The paper tests the "luxury good hypothesis" using newly-assembled data on social protection spending across … countries since 1995, treating the pandemic period separately, as it entailed a large expansion in social protection efforts …