We study the effect of standardized external tests on students’ academic outcomes. We exploit the fact that only one of the 17 Spanish regions started doing and publishing the results of standardized tests in 2005 to apply a difference-in-difference methodology, using outcomes of the PISA...

Evaluamos un programa que introdujo la educación bilingüe en inglés y castellano en educación primaria en algunos colegios públicos de la Comunidad de Madrid en el año 2004. En este programa, los estudiantes no solo estudian inglés como idioma extranjero, sino que el inglés es la lengua...

Recently, economists have established that culture—defined as a common set of preferences and beliefs —affects economic outcomes, including the levels of female labor force participation. Although this literature has argued that culture is transmitted from parents to children, it has also...

Let S be the number of components in a finite discrete mixing distribution. We prove that the number of waves of panel being greater than or equal to 2S is a sufficient condition for global identification of a dynamic binary choice model in which all the parameters are heterogeneous. This model...

This paper considers the estimation of a dynamic ordered probit of self-assessed health status with two fixed effects: one in the linear index equation and one in the cut points. The two fixed effects allow us to robustly control for heterogeneity in unobserved health status and in reporting...

This paper presents and evaluates estimation methods for dynamic nonlinear correlated random effects (CRE) models with unbalanced panels. Accounting for the unbalancedness is crucial in dynamic non-linear models and it cannot be ignored even if the process that produces it is completely at...

This paper considers the estimation of a dynamic ordered probit with fixed effects, with an application to self-assessed health status. The estimation of nonlinear panel data models with fixed effects by MLE is known to be biased when T is not very large. The problem is specially severe in our...

The aim of this paper is to investigate how the capacity of an economic system to absorb shocks depends on the specific pattern of interconnections established among financial firms. The key trade-off at work is between the risk-sharing gains enjoyed by firms when they become more interconnected...