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Measuring the value of better schools

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Author Info

  • Sandra E. Black

Abstract

Several 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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File URL: http://www.newyorkfed.org/research/epr/98v04n1/9803blac.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review.

Volume (Year): (1998)
Issue (Month): Mar ()
Pages: 87-94

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Handle: RePEc:fip:fednep:y:1998:i:mar:p:87-94:n:v.4no.1

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Related research

Keywords: Education;

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Cited by:
  1. Ambrose Leung & J. Stephen Ferris, 2002. "School Size and Youth Violence," Carleton Economic Papers 02-10, Carleton University, Department of Economics, revised Feb 2008.
  2. 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.

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