Jayachandran, Seema; Cunha, Jesse M.; Giorgi, Giacomo De - National Bureau of Economic Research (NBER) - 2011
This paper compares how cash and in-kind transfers affect local prices. Both types of transfers increase the demand for normal goods, but only in-kind transfers also increase supply. Hence, in-kind transfers should lead to lower prices than cash transfers, which helps consumers at the expense of...