Measuring the value of better schools
AbstractSeveral researchers have attempted to measure the value of educational quality by examining its impact on wages earned by students later in life. Adopting an alternative approach, the author of this study calculates what people are willing to pay to reside in a community with superior schools. Controlling for neighborhood characteristics and school financial inputs, she finds that a 5 percent increase in the average test scores of an elementary school leads to a 2.1 percent increase in the price of houses in that school's attendance district.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Economic Policy Review.
Volume (Year): (1998)
Issue (Month): Mar ()
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- Barbara M. Fraumeni & Marshall B. Reinsdorf & Brooks B. Robinson & Matthew P. Williams, 2008. "Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary & Secondary Education," NBER Working Papers 14099, National Bureau of Economic Research, Inc.
- Ambrose Leung & J. Stephen Ferris, 2002.
"School Size and Youth Violence,"
Carleton Economic Papers
02-10, Carleton University, Department of Economics, revised Feb 2008.
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