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House prices and the quality of public schools: what are we buying?

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Author Info
Theodore M. Crone
Abstract

Do house prices reflect the quality of the local public schools? To what extent do school district policies determine how well students perform? How do such factors as neighborhood, family, and peers affect school quality and house prices? Ted Crone examines these questions, and others, to determine whether house prices do, indeed, include a school premium.

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Publisher Info
Article provided by Federal Reserve Bank of Philadelphia in its journal Business Review.

Volume (Year): (1998)
Issue (Month): Sep ()
Pages: 3-14
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Handle: RePEc:fip:fedpbr:y:1998:i:sep:p:3-14

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Related research
Keywords: Education ; Housing;

References listed on IDEAS
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  1. Leekley, Robert M, 1980. "Multiple Outputs and Community Choice in Public Education," Economic Inquiry, Oxford University Press, vol. 18(3), pages 333-52, July.
  2. Betts, Julian R, 1995. "Does School Quality Matter? Evidence from the National Longitudinal Survey of Youth," The Review of Economics and Statistics, MIT Press, vol. 77(2), pages 231-50, May. [Downloadable!] (restricted)
  3. Summers, Anita A & Wolfe, Barbara L, 1977. "Do Schools Make a Difference?," American Economic Review, American Economic Association, vol. 67(4), pages 639-52, September. [Downloadable!] (restricted)
  4. Rosen, Harvey S & Fullerton, David J, 1977. "A Note on Local Tax Rates, Public Benefit Levels, and Property Values," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 433-40, April. [Downloadable!] (restricted)
  5. repec:fth:prinin:357 is not listed on IDEAS
  6. Edel, Matthew & Sclar, Elliott, 1974. "Taxes, Spending, and Property Values: Supply Adjustment in a Tiebout-Oates Model," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 941-54, Sept./Oct. [Downloadable!] (restricted)
  7. Dusansky, Richard & Ingber, Melvin & Karatjas, Nicholas, 1981. "The impact of property taxation on housing values and rents," Journal of Urban Economics, Elsevier, vol. 10(2), pages 240-255, September. [Downloadable!] (restricted)
  8. Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York. [Downloadable!]
    Other versions:
  9. Pollakowski, Henry O, 1973. "The Effects of Property Taxes and Local Public Spending on Property Values: A Comment and Further Results," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 994-1003, July-Aug.. [Downloadable!] (restricted)
  10. David Card & Alan Krueger, 1996. "Labor Market Effects of School Quality: Theory and Evidence," Working Papers 736, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
    Other versions:
  11. King, A Thomas, 1977. "Estimating Property Tax Capitalization: A Critical Comment," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 425-31, April. [Downloadable!] (restricted)
  12. Henderson, Vernon & Mieszkowski, Peter & Sauvageau, Yvon, 1978. "Peer group effects and educational production functions," Journal of Public Economics, Elsevier, vol. 10(1), pages 97-106, August. [Downloadable!] (restricted)
  13. Boardman, Anthony E. & Davis, Otto A. & Sanday, Peggy R., 1977. "A simultaneous equations model of the educational process," Journal of Public Economics, Elsevier, vol. 7(1), pages 23-49, February. [Downloadable!] (restricted)
  14. Oates, Wallace E, 1973. "The Effects of Property Taxes and Local Public Spending on Property Values: A Reply and Yet Further Results," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 1004-08, July-Aug.. [Downloadable!] (restricted)
  15. Hanushek, Eric A, 1992. "The Trade-Off between Child Quantity and Quality," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 84-117, February. [Downloadable!] (restricted)
  16. Brown, Byron W & Saks, Daniel H, 1975. "The Production and Distribution of Cognitive Skills within Schools," Journal of Political Economy, University of Chicago Press, vol. 83(3), pages 571-93, June. [Downloadable!] (restricted)
  17. Reinhard, Raymond M, 1981. "Estimating Property Tax Capitalization: A Further Comment," Journal of Political Economy, University of Chicago Press, vol. 89(6), pages 1251-60, December. [Downloadable!] (restricted)
  18. James Heckman & Anne Layne-Farrar & Petra Todd, 1995. "Does Measured School Quality Really Matter? An Examination of the Earnings-Quality Relationship," NBER Working Papers 5274, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  19. Dynarski, Mark & Schwab, Robert & Zampelli, Ernest, 1989. "Local characteristics and public production: The case of education," Journal of Urban Economics, Elsevier, vol. 26(2), pages 250-263, September. [Downloadable!] (restricted)
  20. Julian R. Betts, 1996. "Is There a Link Between School Inputs and Earnings? Fresh Scrutiny of an Old Literature," University of California at San Diego, Economics Working Paper Series 96-09, Department of Economics, UC San Diego. [Downloadable!]
  21. Oates, Wallace E, 1969. "The Effects of Property Taxes and Local Public Spending on Property Values: An Empirical Study of Tax Capitalization and the Tiebout Hypothesis," Journal of Political Economy, University of Chicago Press, vol. 77(6), pages 957-71, Nov./Dec.. [Downloadable!] (restricted)
  22. Brueckner, Jan K., 1979. "Property values, local public expenditure and economic efficiency," Journal of Public Economics, Elsevier, vol. 11(2), pages 223-245, March. [Downloadable!] (restricted)
  23. Kathy J. Hayes & Lori L. Taylor, 1996. "Neighborhood school characteristics: what signals quality to homebuyers?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 2-9. [Downloadable!]
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This page was last updated on 2009-11-16.


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