Xi Chen|Tianyu Wang|Susan H. Busch
Does money relieve depression? Evidence from social pension expansions in China
Yale University|Renmin University of China|Yale University
estimate impact pension enrollment mental wellbeing using chinas new rural pension scheme nrps largest existing pension program world since launch 2009 400 million chinese enrolled nrps first describe plausible pathways pension may affect mental health use national sample china family panel studies cfps examine effect pension enrollment mental health measured cesd selfreported depressive symptoms overcome endogeneity pension enrollment income change mental health exploit geographic variation pension program implementation results indicate modest large reductions depressive symptoms due pension enrollment effect pronounced among individuals eligible claim pension income among populations financial constraints among worse baseline mental health findings hold rich set robustness checks falsification tests