PEP internal validity test (pre-trends): UQPEs.

Notes: The titles above each graph show the outcome of each regression. PCHI stands for PCHI. Each dot represents the coefficient of the interaction between the share of PEP holders relative to the local labor force for each municipality at the end of the program implementation and year dummy variables. Regressions control for municipality and year fixed effects. Confidence intervals at 95% are included. Standard errors were clustered at the municipality level.

Source: Own elaboration based on data from DANE.