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Paying for Primary Schools: Admission Constraints, School Popularity or Congestion?

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  • Stephen Gibbons
  • Stephen Machin

Abstract

School quality is capitalised in house prices if access to schools is rationed by residential location. We generate empirical predictions from three different theoretical approaches linking house prices to school performance, distance to school and capacity. These are respectively based upon admission constraints, school popularity and congestion effects. We find that test-score-based school performance significantly increases property prices, but only the best one in ten schools generate higher than average prices close by, and that prices are higher close to popular, over-capacity schools. We conclude that the empirical evidence is more in line with the school popularity model. Copyright 2006 Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 116 (2006)
Issue (Month): 510 (03)
Pages: C77-C92

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Handle: RePEc:ecj:econjl:v:116:y:2006:i:510:p:c77-c92

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Cited by:
  1. Hægeland, Torbjørn & Raaum, Oddbjørn & Salvanes, Kjell G., 2012. "Pennies from heaven? Using exogenous tax variation to identify effects of school resources on pupil achievement," Economics of Education Review, Elsevier, vol. 31(5), pages 601-614.
  2. Schlotter, Martin & Schwerdt, Guido & Wößmann, Ludger, 2011. "Econometric methods for causal evaluation of education policies and practices: A non-technical guide," Munich Reprints in Economics 19780, University of Munich, Department of Economics.
  3. Gibbons, Stephen & Machin, Stephen & Silva, Olmo, 2013. "Valuing school quality using boundary discontinuities," Journal of Urban Economics, Elsevier, vol. 75(C), pages 15-28.
  4. Gabriel M. Ahlfeldt & Georgios Kavetsos, 2011. "Form or Function? The Impact of New Football Stadia on Property Prices in London," SERC Discussion Papers 0087, Spatial Economics Research Centre, LSE.
  5. Stephen Gibbons & Stephen Machin, 2008. "Valuing school quality, better transport, and lower crime: evidence from house prices," Oxford Review of Economic Policy, Oxford University Press, vol. 24(1), pages 99-119, spring.
  6. Gibbons, Steve & Machin, Stephen & Silva, Olmo, 2006. "Choice, Competition and Pupil Achievement," IZA Discussion Papers 2214, Institute for the Study of Labor (IZA).
  7. Steve Gibbons & Shqiponja Telhaj, 2006. "Are Schools Drifting Apart? Intake Stratification in English Secondary Schools," CEE Discussion Papers 0064, Centre for the Economics of Education, LSE.
  8. Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.
  9. Feng, Hao & Lu, Ming, 2013. "School quality and housing prices: Empirical evidence from a natural experiment in Shanghai, China," Journal of Housing Economics, Elsevier, vol. 22(4), pages 291-307.
  10. Stephen Machin, 2008. "The new economics of education: methods, evidence and policy," Journal of Population Economics, Springer, vol. 21(1), pages 1-19, January.
  11. Thomas Y. Mathä & Alessandro Porpiglia & Michael Ziegelmeyer, 2014. "Wealth differences across borders and the effect of real estate price dynamics: Evidence from two household surveys," BCL working papers 90, Central Bank of Luxembourg.

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