@TechReport{iza:izadps:dp15139,
            	author={Bizopoulou, Aspasia and Megalokonomou, Rigissa and Simion, Stefania},
            	title={Do Second Chances Pay Off? Evidence from a Natural Experiment with Low-Achieving Students},
            	year={2022},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={15139},
            	url={https://www.iza.org/publications/dp15139},
	abstract={In several countries, students who fail end-of-high-school high-stakes exams are faced with the choice of retaking them or forgoing postsecondary education. We explore exogenous variation generated by a 2006 policy that imposed a performance threshold for admission into postsecondary education in Greece to estimate the effect of retaking exams on a range of outcomes. Using a fuzzy regression discontinuity design and novel administrative data, we find that low-achieving students who retake national exams improve their performance by half a standard deviation, but do not receive offers from higher quality postsecondary placements. The driving mechanism for these results stems from increased competition.},
	keywords={exogenous policy;low-achieving students;postsecondary education admission;fuzzy regression discontinuity design},
            }