Using unique data that track college students' performance over multiple high-stakes tests, we study the impact of transitory random disturbances to student cognitive performance and a minimum-passing-score policy on access to graduate education. Exploiting thermal inversions as an instrumental...

We investigate the impact of memory on consumption by linking random disturbances due to variations in air pollution during house viewings with the final house resale transaction price. We use tracked air pollution on the day of viewing and a cross-sectional model with community fixed effects to...