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Despite recent calls in support of cash transfers, there is little rigorous evidence of the relative impacts of cash versus in-kind transfers, especially in humanitarian contexts, where a majority of such programs take place. This paper uses data from a randomized experiment in the Democratic Republic of Congo to assess the relative impacts and costs of equivalently valued cash and voucher transfers. The voucher program distorted households' purchases along both the extensive and intensivedoi:10.1093/wber/lhv055 fatcat:hfolnj2s3vhvfistgtze26x7je