|The Effect of Income Support for the Households with Children on Redistribution of Income|
The purpose of this study is to analyze and determine the income-redistributing effects of income support policy programs for households with children in Korea. To this end, we analyzed the raw data of the Korean Welfare Panel Surveys and identified the redistribution effects of four specific income support programs for households with children: The Childcare Service Voucher (CSV), Home Care Allowance (HCA), Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).
Our analysis reveals that the CSV has been most effective in reducing inequality. The relative extents of the inequality-reducing effects of individual programs likely reflect the scopes of those programs. Together with these findings, academic and policy implications are discussed.
Ⅰ. Introduction ······························································1
Ⅱ. Literature Review ····················································7
1. Income Support Policy for Households with Children: Definition ·······················································································9
2. Literature Review ·······································································13
Ⅲ. Income-Redistributing and Poverty-Reducing Effects of Income Support for Households with Children ···································································19
1. Distribution of Benefits and Tax Credits ·····························21
2. Effects on Inequality ·································································33
3. Effects on Poverty ······································································38
Ⅳ. Conclusion ······························································43
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