Based on a randomized evaluation, the paper shows that a household-targeted Philippine cash transfer program significantly raised the local price of key foods relevant for child nutritional status. This shift in prices increased stunting among young nonbeneficiary children by 34 percent (11...

Cash transfer programs may generate significant general equilibrium effects that can detract from the anti-poverty goals of the program. Data from a randomized evaluation of a Philippine cash transfer program targeted to poor households show that a 9 percent increase in village income...