The (Lack of) Anticipatory Effects of the Social Safety Net on Human Capital Investment
研究发现，降低家长对孩子未来获得政府福利的预期，并不会增加对孩子人力资本的投资，这一零效应估计精确。
How does the expectation that a child will receive government benefits in adulthood affect parental investments in the child’s human capital? Most parents whose children receive Supplemental Security Income (SSI) benefits overestimate the likelihood that their child will receive SSI benefits in adulthood. We present randomly selected families with the predicted likelihood that their child will receive SSI benefits in adulthood. Reducing parents’ expectations that children will receive benefits in adulthood does not increase investments in children’s human capital. This zero effect is precisely estimated. Likely explanations include parents working more themselves, nonfinancial goals influencing investment, and families facing investment constraints.