Heterogeneous impacts of cash transfers on farm profitability. Evidence from a randomised study in Lesotho
基于莱索托最大转移项目的随机对照试验，估计现金转移对农场盈利能力的平均处理效应，并发现其影响在人群中分布不均，对生产潜力较高者更有利。
Abstract We estimate the average treatment effect (ATE) of cash transfers on farm profitability by exploiting a randomised control trial for the evaluation Lesotho’s biggest transfer program. We also explore impact heterogeneity by unpacking the ATE into group-specific parameters. We estimate conditional average treatment effects to describe how treatment effects vary with selected covariates and quantile treatment effects to illustrate the variability of effects at different outcome levels. We find that the program had sizable impacts on farm profitability, but these impacts are spread unevenly in the population. The program benefited more those with greater productive potential and had strong distributional impacts.