We have published two reports on the effectiveness of cash transfers in terms of subjective well-being.
1. A systematic review and meta-analysis to estimate the impact of cash transfers on subjective well-being and mental health in low- and middle-income countries. This paper has been conditionally accepted for publication in Nature Human Behaviour.
2. A cost-effectiveness analysis of cash transfers in terms of subjective well-being and mental health. This report goes into more depth on the long-run effects and costs in order to estimate the cost-effectiveness of cash transfers. We used this wider evidence base to estimate the cost-effectiveness of GiveDirectly, a highly effective non-profit which provides $1,000 lump-sum cash transfers to some of the poorest people in the world.
Estimated cost-effectiveness of lump-sum and monthly cash transfers