We consider LM-type tests for a unit root allowing for a break in trend at an unknown date. In addition to the minimum LM test statistic, we propose new LM-type tests based on the least squares estimator of the break date under the null. We examine asymptotic behavior under the null hypothesis...

Being the youngest in a cohort entails many penalties. Using administrativedata of every public-school student in Portugal, we show that although performancegains from being 1-year older fade quickly from primary education to high school,age-related penalties persist through a combination of...

The objective of this paper is to assess the differences between contagion and investors' risk aversion in terms of their impact on European sovereign bond yields during the financial crisis. This paper evaluates contagion at banking level, as it has the advantage of capturing the exposure of...

We analyze the effects of several class compositional dimensions on individual student achievement. We make use of a rich dataset that allows tackling major endogeneity concerns stemming from non-random allocation of students between and within schools. We find that increasing the percentage of...

In this paper, we show that, when combining revealed (RP) and stated (SP) data, for marginal changes in quality of environmental goods, rationality implies consistency, as the consistency conditions coincide with a subset of the conditions for rationality