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

We provide the most comprehensive description of student segregation in the Portuguese public school system to date, a system that exhibits interesting institutional features potentially linked with the student segregation issue (e.g. school catchment areas, course tracking, and almost no...

In this study, we assess the credibility of the currency board arrangement (CBA) of the Macau Special Administrative Region by studying the relationship between exchange market pressure (EMP) and the anchors of a rule-based CBA, namely, interest rate arbitrage, exchange rate arbitrage and...

For Portugal, the transition to the Euro began in September 1989 and featured three successive institutional arrangements related to the Exchange Rate Mechanism of the European Monetary System: shadowing it, belonging to it with 6% and then with 15% fluctuation bands. Using daily data, we study...

Portugal was subjected in 2011 to one of the most stringent austerity packages implemented during the crisis, a package known as the troika program. The interpretation of the effects of this program gave space to a vivid confrontation between two opposing views. The Keynesian view stressed the...

PISA uses a complex sampling procedure based on stratification variables chosen by the participating countries’ authorities. In this paper we analyse the representativeness of the samples used in terms of the distribution of students per grade and track of studies for Portugal. For the three...

We contribute to the stated preference literature by addressing scale usage heterogeneity regarding how individuals answer attitudinal questions capturing lack of trust in institutions and fairness issues. Using a latent class model, we conduct a contingent valuation study to elicit the...