One-time unconditional cash transfers given to US citizens in poverty during the Covid-19 pandemic had no positive effects on financial or economic well-being, physical health, or cognitive capacity.

The transfers ranged in size from a control group receiving $0 (n=3,170), another group receiving $500 (n=1,374), and a third group receiving $2,000 (n=699). Expenditures rose in weeks following receipt of the cash, but normalized thereafter. Notably, there were no significant differences between those who received $500 and those who received $2,000.

empirical