We study an unconditional cash transfer program aimed at alleviating rural poverty among older adults. Using death records and a triple difference design, we find a 5.5% reduction in mortality for women, mostly due to a decrease in non-cardiovascular related mortality, and inconclusive evidence for men. We explore mechanisms using income and expenditure surveys and a triple difference-in-discontinuities design. We find little evidence of significant changes in key hypothesized mechanisms, except for declines in employment and hours worked.

This research evaluates Mexico’s 2002 universal preschool mandate using a local difference-in-differences design to isolate policy impacts from school-entry-age effects. Although the mandate significantly boosted cognitive test scores, particularly for higher-income households not participating in Prospera (the conditional cash transfer program for the poor), it proved most effective at improving grade progression for disadvantaged groups. Specifically, boys from Prospera households saw the largest reduction in grade failure. Additionally, the reform enhanced noncognitive skills for boys from non-Prospera households, with no comparable gains for girls. Overall, the findings reveal critical gender and socioeconomic heterogeneity in early childhood educational intervention impacts.

This paper develops and estimates a dynamic model, which integrates value‐added and school‐choice models, to evaluate grade‐by‐grade and cumulative impacts of the Mexican Prospera conditional cash transfer (CCT) program on educational achievement. The empirical application advances the previous literature by estimating policy impacts on learning, accounting for dynamic selective school attendance, and incorporating both observed and unobserved heterogeneity. A dynamic framework is critical for estimating cumulative learning effects because lagged achievements are important determinants of current achievements. The model is estimated using rich nationwide Mexican administrative data on schooling progression and mathematics and Spanish test scores in grades 4–9 along with student and family survey data. The estimates show significant CCT impacts on learning and educational attainment, particularly for students from poorer households. Results show that telesecondary schools (distance learning) play a crucial role in facilitating school attendance and in fostering skill accumulation.

We study the short term effects of an experiment which transitioned conditional cash transfer beneficiaries from receiving benefits in cash at temporary payment modules to receiving benefits through account deposits on women’s status, work and financial inclusion. The experiment was implemented in the context of the Mexican Prospera program in 150 communities in the state of Hidalgo. Our results suggest an immediate and important positive impact of the transition to deposits on women’s control of resources in the household.

This article examines the relation between internal audit function (IAF) quality and investment efficiency, a recurring value-added corporate activity critical to firm survival and profitability. We argue that an IAF, unlike other information intermediaries, is uniquely positioned to have access to firm-specific, private information—particularly related to localized, firm-specific risks. If a more competent IAF incrementally improves the information that is generated and communicated to management (while not participating directly in decision-making), we should observe more productive capital investment decisions from firms with higher quality IAFs relative to firms with lower quality IAFs. Through this enhanced information channel, we find that IAF quality is associated with investment efficiency. This result holds for both under- and overinvestment, although not in tests of all subsamples. We also document that this effect is more pronounced for firms with more complexity and for firms with greater investment opportunities. Our evidence indicates that IAF quality provides measurable and economically meaningful value to an organization.

We study the effects of an experimental transition to account deposits from cash on rural women's receipt of payments and their monetary and time costs of obtaining benefits. The context for our experiment is the Prospera program from Mexico, the pioneering conditional cash transfer program. We find that beneficiaries transitioned to receive deposits incur higher costs of collecting transfers (both time and money) and report feeling significantly less safe when collecting transfers. Furthermore, they are significantly less likely to report receiving their complete transfer, potentially due to bank commissions.

Progresa, an anti-poverty conditional cash transfer program, has been a model for similar programs in more than 60 countries. Numerous studies have found positive impacts on schooling, the nutritional and health status of children and adolescents, and household consumption. However, the effects on the health of older adult beneficiaries have been particularly understudied. In this paper we analyze the effects of Progresa on middle-aged and older adult health, focusing on a high prevalence chronic condition: hypertension. Our results show that Progresa had significant benefits in terms of improved hypertension diagnosis and use of treatment drugs. However, we did not find significant changes in uncontrolled hypertension as measured by systolic and diastolic blood pressure biomarkers in household survey data. Thus, while cash transfer programs may facilitate financial access to healthcare visits and the ability to buy prescribed medicines, by itself the program might not improve hypertension outcomes without complementary healthcare system follow-up to ensure dosage titration and medication adherence.

We study the effects of an unexpected and large migration from Venezuela on Peruvian labor markets. From 2017 to 2019, about 800,000 Venezuelans migrated to Peru, with 84% settling in the Lima metropolitan area. The percentage of Venezuelans in the working age population in Lima increased from nearly 0 to over 10%, with migrants having higher education on average than the local labor force. We propose a simple assignment model of the labor market, which suggests that migration will lead to a reallocation of local workers toward low-skilled jobs. Using synthetic control methods and comparing Lima with a group of other Peruvian metropolitan areas, we find evidence of adjustment in occupational structure in the direction predicted by the model with few decreases in employment of local workers. JEL Classification Codes: F22; J04; O15

Conditional cash transfer (CCT) programs, which link transfers to investment in human capital in poor families, have spread around the world over the past two decades. This paper studies the medium-term effects of Progresa, the pioneering Mexican CCT program, on fertility using nationwide vital statistics combined with administrative data on program receipt. The effects of CCTs are likely to vary by age of the woman, and we study impacts by five-year age intervals. We test and account for possible underreporting of births using indirect methods. We find that Progresa led to an important and statistically significant decline in teenage fertility and smaller, but still significant, effects on reducing the fertility of older women.

Conditional cash transfer programmes have spread to over 60 countries in the past two decades, but little is known about their long-term effects. We estimate the lasting impact of childhood exposure to the Mexico's flagship programme Progresa by leveraging the age structure of benefits and geographic variation in early programme penetration nationwide. Childhood exposure improves women's outcomes in early adulthood with increases in educational attainment, geographic mobility, labour market performance and household living standards. For men, effects are smaller and more difficult to distinguish from spatial convergence.

At the beginning of the 21st century, longstanding health inequality existing in developing countries prompted the adoption of public policies focused on increasing health insurance coverage (HIC). The adoption of these policies was based on the assumption that by expanding coverage, health outcomes of the uninsured population would improve, thus decreasing health inequalities. Yet, evidence from developing countries on the effect of HIC on health outcomes is scant. This paper contributes to this literature by studying the impact of health insurance on adult mortality in a developing country setting characterized by high income and health inequalities (Mexico). We examined Seguro Popular (SP) a public health intervention targeted towards workers in informal sector employment. We used longitudinal data from the Mexican Family Life Survey (MxFLS), a nationally representative survey of the Mexican population, that covered three important periods for the roll-out of SP: the year prior to the program's implementation, the years of expansion, and the years when the program was approaching universal coverage. We merged SP administrative data to the MxFLS and exploited program coverage heterogeneity over time and across municipalities in the implementation of SP to examine its impact on mortality. Our findings demonstrate that SP decreased mortality among the population of adults above the age of 50 residing in rural areas with no preprogram access to medical benefits. We also showed that SP had larger effects for households not receiving benefits from Prospera, Mexico's well-known anti-poverty cash transfer program.

We exploit the longitudinal Mexican Health and Aging Study to estimate the effects of health shocks in the short-run on the subsequent economic well-being of the aging population in Mexico. While there is substantial evidence indicating negative economic effects of such changes in industrialized countries, little is known about health impacts on the future economic position of older adults in low- and middle-income countries. This paper takes an important step towards filling this gap in knowledge. Our results are widely relevant, with a large percentage of the world's population residing in developing countries such as Mexico that are experiencing rapid aging. We find evidence of negative impacts of health shocks on subsequent economic well-being of older adults in Mexico, but the effect varies according to several dimensions. First, the impact is clearly on income, not wealth. Second, responses are heterogenous across sources of income, with evidence of an impact mainly on labor income. Third, we find clear differences by gender in the impact of a health shock, with a larger negative impact on men. Fourth, we conclude that the population groups most negatively affected are those with the greatest degree of vulnerability prior to the shock, as measured by education and access to health insurance. Even though Mexico has made important gains with anti-poverty programs such as the Programa 70+ pension and a move towards universal health insurance, additional interventions targeted at the most vulnerable subsets of the aging population might be warranted.

Studying how the pandemic affects the education and work of adolescents is a critical question with long lasting implications for well-being of the next generation, particularly in the developing world. The Covid-19 pandemic by mid-March 2020 had led to the closing of most educational institutions in Latin America and the Caribbean, and the region has been one of the worst hit by the pandemic (Sanmarchi et al., 2021). This paper uses the Mexican National Occupation and Employment Survey (ENOE) to provide evidence on the pandemic's effects on school and work of youth. We measure changes in the time use of adolescents comparing patterns just before the pandemic (January to March 2020) with those at the beginning of the following school year (September 2020), controlling for pre pandemic trends and potential seasonality. Our study finds a sharp reduction in the probability of being engaged in studies during the previous week for youth age 12 to 18 during the pandemic, as well as a reduction of about 30 percent in total hours spent on studies for those who report spending at least one hour on studies in the previous week. Time in work in general shows fewer changes than in time dedicated to studies, with some reductions in the probability of working outside the home for older youth, and a small increase in the number of hours dedicated to work inside the household. Our results overall are suggestive of an important decrease in youth who are engaged with school, who may be at particular risk for abandoning school permanently. It also suggests that even for those who remain engaged, there is a reduction on time spent studying likely to lead to a decrease in learning. Policies to combat potential dropout and negative effects on learning of the pandemic are urgently needed.

Abstract Research on the mortality effects of social insurance programs for older adults has generated conflicting results. Some studies suggest important health benefits, others find no effects, and still others find unintended adverse effects potentially linked to pathways such as increased obesity. Evidence has focused predominantly on short-run effects rather than net long-run mortality effects and their effects on the health of older adults has been particularly understudied. Mexico offers a unique opportunity for studying the long-run effects of social programs on adult mortality. Within a ten-year period, Mexico introduced the following influential social insurance programs: Progresa conditional cash transfer (CCT) program in 1997, 70 y más unconditional cash transfer (UCT) program for older persons in 2007, and Seguro Popular, a public health insurance program (PHI) for the uninsured, in 2004. In this paper we analyze effects on mortality for middle-age and older adults, by gender, 10-20 years after program implementation.

Conditional cash transfer programs have spread to over 60 countries in the past two decades, but little is known about their long-term effects. We estimate the lasting impact of childhood exposure to Mexico’s flagship program Progresa by leveraging the age structure of benefits and geographic variation in early program penetration nationwide. Childhood exposure improves women’s outcomes in early adulthood, with increases in educational attainment, geographic mobility, labor market performance, and household living standards. For men, effects are smaller and more difficult to distinguish from spatial convergence. Susan W. Parker 4109 Van Munching Hall University of Maryland College Park, MD 20742 swparker@umd.edu Tom Vogl Department of Economics University of California at San Diego 9500 Gilman Drive La Jolla, CA 92093 and NBER tvogl@ucsd.edu

This paper develops and estimates a dynamic model of student enrollment, school choice, academic achievement and grade progression to evaluate the impacts of Mexico’s conditional cash transfer program Prospera on educational outcomes over grades 4-9. Academic achievement is measured by nationwide standardized test scores in mathematics and Spanish. Enrollment decisions are the outcomes of sequential decisions at each age from individuals’ feasible choice sets, determined by the types of schools locally available and local-labor-market opportunities. The achievement production function has a value-added structure. Model parameters are estimated by maximum likelihood using nationwide administrative test-score data (the ENCEL data) combined with survey data from students and parents, census labor-market data, and geo-coded school-location data. The estimation approach controls for selective school enrollment in different types of schools, grade retention and unobserved heterogeneity. The results show that the Prospera program increases school enrollment and academic achievement for program beneficiaries in lower-secondary school grades (grades 7-9). The average test-score impacts are 0.09-0.13 standard deviations in mathematics and 0.03-0.05 standard deviations in Spanish. Students from the most disadvantaged backgrounds experience the largest impacts. The availability of telesecondary distance-learning schools is shown to be an important determinant of the Prospera program’s impacts on educational outcomes. ∗Jere R. Behrman is the William R. Kenan, Jr. Professor of Economics and Sociology and a Research Associate of the University of Pennsylvania’s Population Studies Center, Population Aging Research Center and Penn Institute for Development Research. Susan W. Parker is a Professor of Public Policy at the University of Maryland and Affiliate Professor at CIDE in Mexico City. Petra Todd is the Edmund J. and Louise W. Kahn Term Professor of Economics at the University of Pennsylvania and a member of the University of Pennsylvania Population Studies Group, NBER and IZA. Weilong Zhang is an Assistant Professor at the University of Cambridge. We are grateful for financial support from NSF award #1948943 and from the University of Pennsylvania School of Arts and Sciences internal grants "Making a Difference in Diverse Communities" and the "Dean’s Global Inquiries Fund". We also thank Gabrielle Vasey, Rodrigo Deiana, Elizaveta Brover, Pinar Gupta, Mira Potter-Schwartz, and Erika Trevino-Alvarado for research assistance. We thank Hector Robles Vaquez for preparing databases and for assistance in working with these data. We thank Miguel Szekely for conversations about the Mexican educational system. This paper was presented at the University of Cambridge, the University of Arizona, the University of Maryland, the University of Pennsylvania, Stanford Institute for Theoretical Economics (2021) and University of Glasgow. We thank Eric French, Magne Mogstad, and Christopher Taber for helpful suggestions. 1

Una introducción al número extraordinario sobre la economía mexicana, escrita por los editores invitados Gerardo Esquivel y Susan W. Parker.

As colleges and universities rapidly closed due to COVID-19, students and faculty were faced with unique challenges. The pandemic forced the cancellation of all campus activities, both extra-curricular and program-focused, such as student teaching experiences and nursing clinical rotations. Additionally, instructors were forced to rethink content delivery as coursework was quickly moved online and administered remotely via virtual platforms. Students were impacted as university level programs underwent a major paradigm shift within a matter of days or weeks. This study examined perspectives of undergraduate and graduate students regarding their experiences with rapid conversion from on-ground, in-person courses to remote instruction during the spring 2020 semester. The researchers employed a QUAN-QUAL descriptive mixed methods design. Using questionnaires and semi-structured interviews, the researchers examined general perspectives on in-person learning before the pandemic; initial perceptions about remote learning; and perceptions of the students about effort, engagement, needs, and ethical behavior as they engaged in totally remote learning. Results, analyzed using SPSS (QUAN) and inter-coder agreement (QUAL), indicated that initially students were engaged and satisfied with their in-person instruction, but became less satisfied and engaged during remote instruction. Undergraduate students experienced feelings of increased frustration, decreased accountability and engagement during remote learning, and turned to collaboration to earn points as they finished the semester.

Control self-assessment (CSA) represents the practice of making operational-level managers responsible for internal control monitoring. We investigate the association between the use of CSA and certain costs incurred in maintaining internal control systems and complying with regulatory requirements. We find a negative association between CSA and external audit fees paid for the audit of internal control over financial reporting. Moreover, we find an incremental fee reduction resulting from the interaction between CSA and Section 404 assistance provided to the external auditor by the internal auditor. Additionally, we find a negative association between the use of CSA and some costs of the internal audit's own evaluation of operational and financial controls for managerial purposes. In sum, our study suggests that CSA can lessen at least some internal control costs while reducing control risk as proxied by external costs of internal control compliance. We discuss implications for broader management control systems.

Many studies have demonstrated that Mexico's conditional cash transfer program, PROSPERA, has substantial effects on educational attainment. Nevertheless, little evidence exists on whether increases in time spent in school have led to higher learning in the context of the poor areas where PROSPERA principally operates, which tend to have overall low school quality. This study combines data from nationwide achievement tests with administrative data on PROSPERA beneficiaries to estimate impacts on achievement tests. The analysis finds significant effects on learning, as measured by standardized achievement tests, on the order of magnitude of 0.05 to standard deviation, with larger effects for indigenous children. The analysis also confirms large effects on enrollment in secondary and high school, using administrative school enrollment data rather than self-reported household-level data, as generally used in previous studies. Finally, given the existence of several alternative tracks in secondary and high school, the study also examines where PROSPERA beneficiaries enroll. The findings show that most of the increase in enrollment occurs in tele-secondary schools and, at the high school level, in general high schools.