Abstract. Using administrative data and a regression discontinuity design, we study the labor market effects of a government-sponsored award given to top-performing students on Colombia’s national college exit exam. The award signals field-specific skills, leading recipients to earn seven to ten percent more than comparable peers without the signal. The benefits are concentrated among graduates from lowerreputation institutions, who enter the market with weaker signals and gain access to better job matches and higher-paying firms. These returns persist for up to five years, driven by an upward shift in the intercept of the wage-experience profile of those with weaker signals.

Ridiculed for imposing trade tariffs on frozen islands largely inhabited by penguins, Donald Trump's formula for calculating those levies has a serious side: it is also hitting some of the world's poorest nations hardest.

A journey through the front lines of global poverty shows that when the world’s richest men slash aid for the world’s poorest children, the result is sickness, starvation and death.

President Trump has quickly transformed America’s approach to the environment, withholding funds and stretching the limits of presidential power.

Government infusions at key moments helped Tesla and SpaceX flourish, boosting Musk’s wealth.

Abstract. This paper examines the impact of denying a wanted abortion on women and children in Colombia using high-quality administrative microdata and cre

A merit-based teacher hiring reform succeeded in recruiting teachers with better qualifications, but the replacement of more experienced teachers led to a decline in student outcomes.

Merit-based hiring systems aim to be fair and transparent, but can overlook the importance of on-the-job learning