Published Econometrica Online 1 Jan 2025Rural Pensions, Labor Reallocation, and Aggregate Income: An Empirical and Quantitative Analysis of ChinaQingen Gai · Naijia Guo · Bingjing Li · Qinghua Shi · Xiaodong ZhuThis paper asks why so much labor stays in low-productivity agriculture in developing countries, and treats the county-by-county rollout of China's New Rural Pension Scheme (NRPS) between 2009 and …