@article {10272,
	title = {The Long-Run Economic Consequences of High-Stakes Examinations: Evidence from Transitory Variation in Pollution},
	journal = {American Economic Journal: Applied Economics},
	volume = {8},
	year = {2016},
	pages = {36-65},
	abstract = {Cognitive performance during high-stakes exams can be affected byrandom disturbances that, even if transitory, may have permanentconsequences. We evaluate this hypothesis among Israeli studentswho took a series of matriculation exams between 2000 and 2002.\&nbsp;Exploiting variation across the same student taking multiple exams,\&nbsp;we find that transitory PM2.5 exposure is associated with a significant\&nbsp;decline in student performance. We then examine these students in\&nbsp;2010 and find that PM2.5 exposure during exams is negatively associated\&nbsp;with postsecondary\&nbsp;educational attainment and earnings. The\&nbsp;results highlight how reliance on noisy signals of student quality can\&nbsp;lead to allocative inefficiency.},
	author = {Avraham Ebenstein and Victor Lavy and Sefi Roth}
}
