Using census data from 1960 to 2021, this graphic reveals how suburban municipalities evolved representing less than 19% of the population in mainland Portugal almost 39%. In particular, constitute only group for which doubling size occurred more often not. At same time, Lisbon and Porto, central cities two metropolitan areas, lost 32% 24%, respectively, their population. The paper concludes by...

Abstract This paper considers an unavoidable feature of the school environment, class rank. What are long-run effects a student's ordinal rank in elementary school? Using administrative data on all public-school students Texas, we show that with higher third-grade academic rank, conditional achievement and classroom fixed effects, have subsequent test scores, more likely to take AP classes, gra...

We offer a new explanation for the long-run underperformance of IPO stocks using prospect theory. According to this theory, uncertain outcomes enter an investor’s utility function through a nonlinear transformation of their probabilities. Small probability events are given more weight than in expected utility theory, whereas median and large probability events are given less weight. IPO stocks ...