This paper develops a framework for the quantitative analysis of individual income dynamics, mobility and welfare …. Individual income is assumed to follow a stochastic process with two (unobserved) components, an i.i.d. component representing … measurement error or transitory income shocks and an AR(1) component representing persistent changes in income. We use a tractable …

difference-in-difference approach using administrative panel data on over 54,000 course grades of local students enrolled at … Maastricht University before and during the partial cannabis prohibition.We find that the academic performance of students who … are no longer legally permitted to buy cannabis increases substantially. Grade improvements are driven by younger students …