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Do better schools matter? Parental valuation of elementary education

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  • Sandra E. Black

Abstract

The evaluation of numerous school reforms requires an understanding of the value parents place on school quality. I use house prices to infer this value, where school quality is proxied by elementary school test scores. I do so by looking within school districts at houses located on attendance district boundaries; I am then comparing houses that differ along only one dimension: the elementary school the child attends. I thereby effectively remove the variation in neighborhood characteristics, property tax rates, and school spending. I find that parents are willing to pay 2.5% more for a 5% increase in test scores; this is approximately half the estimate one gets by running a typical hedonic housing price regression. This estimate is robust to a number of sensitivity checks.

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Bibliographic Info

Paper provided by Federal Reserve Bank of New York in its series Research Paper with number 9729.

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Date of creation: 1997
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Handle: RePEc:fip:fednrp:9729

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Keywords: Education ; Consumer behavior;

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  1. David Card & Alan B. Krueger, 1996. "Labor Market Effects of School Quality: Theory and Evidence," NBER Working Papers 5450, National Bureau of Economic Research, Inc.
  2. Joshua Angrist & Alan Krueger, 1990. "Does Compulsory School Attendance Affect Schooling and Earnings?," Working Papers, Princeton University, Department of Economics, Industrial Relations Section. 653, Princeton University, Department of Economics, Industrial Relations Section..
  3. repec:fth:prinin:357 is not listed on IDEAS
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  1. > Real Estate and Housing Economics
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