We investigate the effect of income on the long-standing racial mortality gap in the United States by using evidence from White and Black Civil War veterans who went on to receive postwar pensions. To circumvent endogeneity, we propose an exogenous source of variation in pension income: the judgment of the doctors who certified disability. We find large effects of pension income on longevity; large enough to close the Black–White mortality gap, in principle. However, because physicians discriminated against Blacks when evaluating the existence and severity of disabilities, Blacks received reduced pension benefits that failed to eliminate racial mortality gaps in practice. Our findings shed light on the role of beliefs about race, as opposed to racial animus, in contributing to racial differentials in well-being.

We estimate the long-run impact of cash transfers to poor families on children's longevity, educational attainment, nutritional status, and income in adulthood. To do so, we collected individual-level administrative records of applicants to the Mothers' Pension program-the first government-sponsored welfare program in the United States (1911-1935)-and matched them to census, WWII, and death records. Male children of accepted applicants lived one year longer than those of rejected mothers. They also obtained one-third more years of schooling, were less likely to be underweight, and had higher income in adulthood than children of rejected mothers.

We study the lifetime effects of the first and largest American youth employment and training program in the United States-the Civilian Conservation Corps (CCC), 1933-1942. We match newly digitized enrollee records to census, World War II enlistment, Social Security, and death records. We find that longer service in the CCC led to improvements in height, health status, longevity, geographic mobility, and lifetime earnings but did not improve short-term labor market outcomes, including employment and wages. We address potential selection into CCC duration using several approaches, most importantly two newly developed control-function approaches that leverage unbiased estimates of the short-term effects of a randomized controlled trial of Job Corps (the modern version of the CCC). Our findings suggest that short- and medium-term evaluations of employment programs underestimate effects because they fail to capture lifetime effects and often ignore or underestimate health and longevity benefits that increase in magnitude at later ages.