The Impact of Emergency Cash Assistance in a Pandemic

This publication studies the impact of money on households during the COVID-19 pandemic.

In March 2020, Colombia rolled out a new unconditional cash transfer (UCT) to one million households in poverty worth $19 and paid every five to eight weeks. Using a randomized control trial, and linked administrative and survey data, the study found that UCT had modest, but positive effects on measures of household well-being (e.g., financial health, food access). Moreover, the UCT boosted support for emergency assistance to households and firms during the crisis and promoted social cooperation.