Estimating the Value of an In-Kind Transfer: The Case of Food Stamps
利用1982年波多黎各食品券转换为现金的自然实验，估算实物转移支付的价值，发现现金化对食品支出无显著影响，原因包括券的边际内性及广泛存在的非法交易。
The value of one in-kind transfer, food stamps, is estimated by evaluating the experience of an actual conversion from stamps to cash in Puerto Rico in 1982. The evidence indicates that the cashout of the stamps had no detectable influence on food expenditures. The explanation partly lies in the distribution of expenditures, for the stamps were inframarginal for most recipients. However, some evidence indicates that trafficking in stamps was widespread as well, including indirect evidence from estimation of the piecewise-linear constraint model. Copyright 1989 by The Econometric Society.