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Why Cash Transfers Are Good Policy in the COVID-19 Pandemic

Author

Listed:
  • R. Anton Braun
  • Daisuke Ikeda

Abstract

The COVID-19 pandemic has had an exceptionally large and negative impact on economic activity around the world. We show that cash transfers can be a useful policy tool during the pandemic. Cash transfers mitigate consumption inequality induced by the pandemic and provide incentives to individuals who are most negatively affected by lockdown policies to adhere to them.

Suggested Citation

  • R. Anton Braun & Daisuke Ikeda, 2020. "Why Cash Transfers Are Good Policy in the COVID-19 Pandemic," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2020(4), pages 1-13, May.
    • Handle: RePEc:fip:a00068:99133
    DOI: 10.29338/ph2020-04
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    More about this item

    Keywords

    COVID-19 pandemic; cash transfers; stimulus payments; inequality;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H84 - Public Economics - - Miscellaneous Issues - - - Disaster Aid

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