Upstream and Downstream Impacts of College Merit-Based Financial Aid for Low-Income Students: Ser Pilo Paga in Colombia

Juliana Londono-Velez; Catherine Rodriguez; Fabio Sanchez (2020) · American Economic Journal: Economic Policy

Published

October 10, 2026

import sys
from pathlib import Path

ROOT = next(
    p for p in [Path.cwd(), *Path.cwd().parents]
    if (p / "scripts/tranche50_report.py").exists()
)
sys.path.insert(0, str(ROOT / "scripts"))
from tranche50_report import report
report("aeraej-12", tranche="tranche100")

Juliana Londono-Velez; Catherine Rodriguez; Fabio Sanchez (2020). American Economic Journal: Economic Policy. Appendix Table A6, Row 1, Column 1.

Collection index · Results JSON · QMD · Reproduction code

Source specification

Repeated student observations retain municipality effects and eligibility-group controls. Treatment-group-by-municipality identifies adoption; pre/post is the source clock. Observation clusters implement heteroskedasticity-robust inference.

Source coefficient Template on source sample Source N Template source-sample N
0.038405 0.038405 2.8165e+06 2.8165e+06

Source-to-template coefficient difference: 4.78e-12, in original outcome units.

Role Column
Outcome ai123
Treatment did
Unit municipality_group
Time post
Cluster observation_id

1 retained control columns. ss

Estimates below divide the outcome by its source-sample standard deviation, 0.364363. Static TWFE is the treatment coefficient. Dynamic TWFE, BJS and Sun–Abraham average supported post-treatment cells by observation count. CS-DID additionally reports an equal-event-time average.

Analysis sample and treatment timing

Observations Units Treated Control units Cohorts Clusters
2816322 2172 1111 1061 1 2816322
Sample restriction Count
initially treated units removed 2
additional rows removed 196752

Adoption is the first observed treated period. Initially treated units and units without an observed minus-one baseline are excluded. Post-adoption untreated rows are excluded for switching policies. The plot shows at most 100 seeded-sample units; estimation uses the full eligible sample. Empty cells remain missing.

y__d: 100 of 2172 units shown (seed 20261008). All eligible units enter estimation. Purple: untreated; yellow: treated; white: unobserved.

Estimates

Estimator Estimate (SD) SE 95% lower 95% upper Target Status
Static TWFE 0.10533 0.0041465 0.0972 0.11345 Coefficient estimated
Dynamic TWFE 0.10533 0.0041465 0.0972 0.11345 Treated cells estimated
BJS / did2s 0.10273 0.0041396 0.09462 0.11085 Treated cells estimated
Sun–Abraham 0.10533 0.0041465 0.0972 0.11345 Treated cells estimated
CS-DID (equal event-time) nan nan nan nan Equal post-event times unsupported
SDID nan nan nan nan Treated cells unsupported
Matrix completion nan nan nan nan Treated cells unsupported
Horizontal ridge nan nan nan nan Treated cells unsupported
Multisynth (cohort-averaged) nan nan nan nan Treated cells unsupported
Multisynth (individual) nan nan nan nan Treated cells unsupported

Intervals use the configured clusters and the estimator’s available inference. Hollow points have no computed interval; no new refit-bootstrap batch is run.

Estimator Reason
CS-DID (equal event-time) csdid: matching the configured nonstandard fixed effects is not implemented.
SDID sdid: matching the configured nonstandard fixed effects is not implemented.
Matrix completion matrix-completion: matching the configured nonstandard fixed effects is not implemented.
Horizontal ridge horizontal-ridge: matching the configured nonstandard fixed effects is not implemented.
Multisynth (cohort-averaged) multisynth-cohort: matching the configured nonstandard fixed effects is not implemented.
Multisynth (individual) multisynth-individual: matching the configured nonstandard fixed effects is not implemented.

Event studies

Cohort homogeneity

The imported TestingInEventStudies deviations design tests positive-event-time cohort deviations jointly. This is the homoskedastic nested-model F-test; the estimator confidence intervals above use clustered inference.

**y__d: homogeneity test not identified.** Only one treated cohort remains on the common supported sample.

Fitting settings and checks

Specification Estimator Settings Pooling
y__d CS-DID {} {}
y__d SDID {} {}
y__d Matrix completion {} {}
y__d Horizontal ridge {} {}
y__d Multisynth (cohort-averaged) {} {}
y__d Multisynth (individual) {} {} 
{
  "did2s_vs_direct_imputation_max_post_difference": 7.635651924159381e-06,
  "package_aggregate_vs_estimable_cell_weights": null
}