In particle physics there is the concept of "look elsewhere" effect, precisely to take into account that if you look for a signal, for example of a particle of any mass in some range, there is the possibility that just by chance you find some statistical deviation at some mass value.
It is very different to confirm a prediction (i.e. to look for a particle with a precisely predicted mass), than to fish for some unexpected signal in your data.
In some cases Economics could do the same: Looking for an effect in any age range could be post-processed to take into account that you are looking into many age groups.
It is very different to confirm a prediction (i.e. to look for a particle with a precisely predicted mass), than to fish for some unexpected signal in your data.
In some cases Economics could do the same: Looking for an effect in any age range could be post-processed to take into account that you are looking into many age groups.