Consumption Smoothing and Frequency of Benefit Payments of Cash Transfer Programs
The American economic review, Volume 107, Issue 5, 2017, Pages 430-435.
We analyze two noncontributory Mexican pension programs for the elderly. Both paid similar amounts, but one paid monthly while the other paid every two months. The Life Cycle Hypothesis suggests frequency of benefits payments should not affect consumption smoothing, but we find the monthly program was more effective in smoothing food expe...More
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