1. Introduction 1

2. Background 6
 2.1 Why might income affect health? 6
 2.2 Existing evidence on the health-income relationship 7

3. The OpenResearch unconditional income study 10
 3.1 Eligibility and recruitment 10
 3.2 Randomization and enrollment 12
 3.3 Intervention period 15

4. Data 15
 4.1 Survey data 15
 4.2 Phone app data 17
 4.3 Administrative data 19
 4.4 Biomarkers 20

5. Estimation 22

6. Results 24
 6.1 Impact of the guaranteed income program on health outcomes 24
 6.2 Effects by time 31
 6.3 Effects by subgroup 32
 6.4 Alternative specifications and robustness checks to address differential survey response 32
 6.5 Comparison to expert predictions 34

7. Discussion 35