Strengthening Income Stabilization through Social Protection in Emerging and Developing Economies: The Brazilian Experience

Strengthening Income Stabilization through Social Protection in Emerging and Developing Economies
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Volume/Issue: Volume 2024 Issue 052
Publication date: March 2024
ISBN: 9798400266980
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Topics covered in this book

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Labor , Economics- Macroeconomics , Public Finance , Economics / General , Income Stabilizer , Social Protection , Social Safety Net , Brazil , Auxilio Emergencial , Poverty Reduction , household income , income stabilization , Auxílio Emergencial beneficiary , AE's effectiveness , Income , Social protection spending , Social assistance spending , COVID-19 , Labor markets , Global

Summary

Social protection programs are crucial for stabilizing household income, especially during crises. Brazil's response to the pandemic, the Auxilio Emergencial (AE) program, demonstrated the value of a resilient social safety net and digital tools. This study assesses AE's effectiveness in income stabilization, poverty reduction, and inequality. Results show that the pre-pandemic social protection system would have only buffered about a quarter of income loss, with unemployment insurance more significant for higher-income households, and social safety net transfers crucial for lower-income households, especially those in informal employment. AE successfully supported lower-income households during the pandemic, but its generosity went beyond the stabilization of income, resulting in large fiscal costs.