The Marginal Propensity to Earn and Consume out of Unearned Income: Evidence Using an Unusually Large Cash Grant Reform*
利用南非快速引入的无条件现金补助（儿童抚养补助）改革，估计家庭对非劳动收入的边际消费倾向约为0.7，边际赚取倾向约为-0.3，且补助几乎未被储蓄。
Abstract In this paper, we use the rapid introduction of an unconditional cash grant (child support) in South Africa to estimate the marginal propensity to consume and earn out of unearned income. We find that the marginal propensity to earn is about −0.3 and that the marginal propensity to consume is about 0.7. Nothing of the grant appears to be saved; if anything, households dissave against future grant payments. The marginal propensities estimated here are similar to those reported in comparable papers using US data. However, they stand in contrast to some results on conditional cash transfers in other developing countries.