The Causal Effect of an Income Shock on Children's Human Capital

• 成果类型: Article
• 署名作者: Borra, Cristina; Gonzalez, Libertad; Costa-Ramon, Ana; Sevilla, Almudena
• 署名单位: University of Sevilla; Pompeu Fabra University; Barcelona School of Economics; University of Zurich; University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/733052
• 发表日期: 2026
• 关键词: cash transfers; family income; birth-order; tax credit; IMPACT; childhood; benefits; outcomes; universal; education

摘要

We investigate the causal impact of a generous unconditional cash transfer at birth on children's health and academic performance. Using rich administrative data, we take advantage of the unexpected introduction of a baby bonus in Spain in 2007 and implement a difference-in-discontinuity approach comparing children born in the surrounding months in different years. We find little impact on children's health and test scores. We also fail to find meaningful changes in household structure, maternal employment, parental time, or child-related monetary investments. Our results contribute to understanding which interventions are effective at fostering children's health and human capital formation.