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The Welfare Effects of Public Expenditure Programs Reconsidered

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  • Robert Holzmann

    (International Monetary Fund)

Abstract

A welfare-based measure is proposed to evaluate the distributive effects of public programs. The measure differs from traditional approaches in two ways: first, it is based on life-cycle considerations, since most public expenditure programs have an intertemporal objective; second, it takes into account market imperfections, which themselves give rise to many governmental interventions. The measure and its numerical illustrations suggest that, in general, the welfare effects from public programs whose aim is to eliminate market constraints are greater than those that can be achieved through interpersonal income distribution.

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.

Volume (Year): 37 (1990)
Issue (Month): 2 (June)
Pages: 338-359

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Handle: RePEc:pal:imfstp:v:37:y:1990:i:2:p:338-359

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Cited by:
  1. Robert Holzmann & Steen Jorgensen, 2000. "Social risk management : a new conceptual framework for social protection and beyond," Social Protection Discussion Papers 21314, The World Bank.
  2. Martin Ravallion, 2003. "Targeted transfers in poor countries : revisiting the trade-offs and policy options," Social Protection Discussion Papers 27869, The World Bank.
  3. World Bank, 2001. "Risk Management in South Asia : A Poverty Focused Approach," World Bank Other Operational Studies 15449, The World Bank.
  4. Paul Mosley & Robert Holzmann & Steen Jorgensen, 1999. "Social protection as social risk management: conceptual underpinnings for the social protection sector strategy paper," Journal of International Development, John Wiley & Sons, Ltd., vol. 11(7), pages 1005-1027.
  5. Selden, Thomas M. & Wasylenko, Michael J., 1992. "Benefit incidence analysis in developing countries," Policy Research Working Paper Series 1015, The World Bank.
  6. Robert Holzmann & Richard Hinz, 2005. "Old Age Income Support in the 21st century: An International Perspective on Pension Systems and Reform," World Bank Publications, The World Bank, number 7336, October.
  7. Jesurun-Clements, Nancy, 1992. "Paternalism and the alleviation of poverty," Policy Research Working Paper Series 822, The World Bank.
  8. Cormac O'Dea & Ian Preston, 2012. "The distributional impact of public spending in the UK," IFS Working Papers W12/06, Institute for Fiscal Studies.

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