In this paper we estimate a structural model of sequential decision of higher education and dropout to evaluate the impact of short-term credit constraint on dropouts. In particular, we analyze the impact on dropouts of the State Guaranteed Credit program (CAE) the most important funding program...

This paper examines the properties of instrumental variables (IV) applied to models with essential heterogeneity, that is, models where responses to interventions are heterogeneous and agents adopt treatments (participate in programs) with at least partial knowledge of their idiosyncratic...

This paper develops the method of local instrumental variables for models with multiple, unordered treatments when treatment choice is determined by a nonparametric version of the multinomial choice model. Responses to interventions are permitted to be heterogeneous in a general way and agents...