The quality of the educational system is crucial to the most diverse socioeconomic and cultural aspects of a country. The objective of this paper is highlighting the importance of quality of education to explain the wide income disparities between Brazilian people. In face of such evidence, and...

This paper considers a panel data regression model with heteroskedastic as well as serially correlated disturbances, and derives a joint LM test for homoskedasticity and no first order serial correlation. The restricted model is the standard random individual error component model. It also...