Most Difference-in-Difference (DD) papers rely on many years of data and focus on serially correlated outcomes. Yet almost all these papers ignore the bias in the estimated standard errors that serial correlation introduces. This is especially troubling because the independent variable of...

Efforts examining effects of policy interventions or macroeconomic events often encounter issues finding suitable control groups to create a counterfactual. Such studies are usually observational with potential control groups consisting of heterogeneous geographic areas unaffected by the event...

Income-maximizing consumers should vote in predictable ways: support for liberal, redistributive governments should fall as income rises. But weak empirical evidence for these voting patterns might suggest that voters are influenced by alternative factors, such as perceptions of social mobility...

This paper proposes a new modelling framework for electricity forward markets based on so-called ambit fields. The new model can capture many of the stylised facts observed in energy markets and is highly analytically tractable. We give a detailed account on the probabilistic properties of the...

This paper aims to explore the gender gap in the academic performance in the secondary school in the Colombian regions using data from the SABER-11 2009, a test administered by the ICFES. This data has been analyzed using mean differences and through the student’s quantile regressions,...