adults, and largest for the oldest son. Ardington, Case, and Hosegood (2009) argue that the OAP increases employment among prime-aged adults, by easing credit constraints for migration and job search and by increasing the availability of elderly to care for small children. Ranchhod (2006) finds that pension eligibility causes large declines in labor force participation among the elderly themselves, as well as an increase in flextime work along with a reduction in hours worked among those who stay in the labor force. Lam, Leibbrandt, and Ranchhod (2006) also find that age of pension eligibility is associated with accelerated rates of retirement, faster for men than women, but not as high as the jumps in retirement observed in European countries.<sup>8</sup> They also point out that many elderly live in three- or skipped-generation households, which may in part be a response to the OAP itself (Hamoudi and Thomas 2014) and makes interpretation of studies that treat the OAP as exogenous more difficult.

We conclude this section by discussing the labor market outcomes of young adults, who were exposed to a CCT or a UCT program as children in beneficiary households. Behrman, Parker, and Todd (2011) observe weak positive effects on working (labor force participation) for females who were 13-15 just prior to the start of PROGRESA six years later. For males 13-15 at baseline, they find a weak negative effect on working in agriculture – possibly since some are still in school.<sup>9</sup> Several recent evaluations of cash transfer programs from Asia, Latin America, and Africa have added to the evidence base on the effects of cash transfers on the future outcomes of child beneficiaries. In Cambodia, Filmer and Schady (2014) examine the effects of a three-year secondary school scholarship program and find no effects on employment or earnings five years after baseline (two years after the end of transfers/scholarship funds).<sup>10</sup> In Ecuador, Araujo, Bosch, and Schady (2016) find no effect of large cash transfers on employment 10 years after the start of the program among young adults aged 19-25. In Nicaragua, Barham, Macours, and Maluccio

> 8 Kaushal (2014) also finds declines in employment rates in India in response to the expansion of the pension system to all poor elderly, but the declines are small (3-6 pp or 4-8%), perhaps because pension amounts are not high enough to cause large-scale retirement.

> 9 Kugler (2018) claims large effects on employment, hours worked, and earnings for those 7-16 years of age prior to the introduction of PROGRESA, but the paper suffers from very high levels of attrition after 2003. Employing a difference-in-difference estimation strategy using the 2010 census, Parker and Vogl (2018) find that females fully exposed to PROGRESA (i.e. when they were between the ages of 7-11 when the program was rolled out in their communities) were more likely to be working for pay and had higher monthly labor incomes. However, they do not find the same effects for males.

> 10 Evaluating a similar scholarship program targeted to students entering Grade 4 nine years after the introduction of the program, Barrera-Osorio, de Barros, and Filmer (2018) find a small and marginally significant effect on the probability of working (3.4 pp over a base of 92.5% in the control group). The effect was only among the group that received merit-based scholarships rather than need-based ones.

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