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Distribution of Demand for School Quality: Evidence from Quantile Regression

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  • Wada, Roy
  • Herbert, Zahirovic-Herbert
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Abstract

Our results show that high-income families place significantly higher value on academic achievement than low-income families. High-income families are also more likely to penalize house price for non-desirable non-academic school quality. This paper uses quantile regression to examine the distribution of demand for school quality. For academic achievement, the average effects as estimated by OLS are biased toward zero due to “aggregation” of families’ willingness to pay. We take advantage of a court-ordered redistricting as a quasi-random assignment of school quality. Subdivision and school fixed-effects are used to control for unobserved characteristics.

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File URL: http://mpra.ub.uni-muenchen.de/18078/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18078.

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Date of creation: Oct 2009
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Handle: RePEc:pra:mprapa:18078

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Keywords: school quality; demand; house price; quantile regression; hedonic equation;

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  1. David Brasington & Donald R. Haurin, 2006. "Educational Outcomes and House Values: A Test of the value added Approach," Journal of Regional Science, Wiley Blackwell, vol. 46(2), pages 245-268.
  2. Mata, Jose & Machado, Jose A. F., 1996. "Firm start-up size: A conditional quantile approach," European Economic Review, Elsevier, vol. 40(6), pages 1305-1323, June.
  3. Justine S. Hastings & Thomas J. Kane & Douglas O. Staiger, 2005. "Parental Preferences and School Competition: Evidence from a Public School Choice Program," NBER Working Papers 11805, National Bureau of Economic Research, Inc.
  4. Roger Koenker & Kevin F. Hallock, 2001. "Quantile Regression," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 143-156, Fall.
  5. Geoffrey Turnbull & Jonathan Dombrow, 2006. "Spatial Competition and Shopping Externalities: Evidence from the Housing Market," The Journal of Real Estate Finance and Economics, Springer, vol. 32(4), pages 391-408, June.
  6. William Gould, 1998. "Interquartile and simultaneous-quantile regression," Stata Technical Bulletin, StataCorp LP, vol. 7(38).
  7. Patrick Bayer & Fernando Ferreira & Robert McMillan, 2004. "Tiebout Sorting, Social Multipliers and the Demand for School Quality," NBER Working Papers 10871, National Bureau of Economic Research, Inc.
  8. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January.
  9. 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.
  10. Figlio, David N., 1999. "Functional form and the estimated effects of school resources," Economics of Education Review, Elsevier, vol. 18(2), pages 241-252, April.
  11. John Ries & Tsur Somerville, 2010. "School Quality and Residential Property Values: Evidence from Vancouver Rezoning," The Review of Economics and Statistics, MIT Press, vol. 92(4), pages 928-944, November.
  12. William Gould, 1993. "Quantile regression with bootstrapped standard errors," Stata Technical Bulletin, StataCorp LP, vol. 2(9).
  13. Haurin, Donald R. & Brasington, David, 1996. "School Quality and Real House Prices: Inter- and Intrametropolitan Effects," Journal of Housing Economics, Elsevier, vol. 5(4), pages 351-368, December.
  14. Brian A. Jacob & Lars Lefgren, 2007. "What Do Parents Value in Education? An Empirical Investigation of Parents' Revealed Preferences for Teachers," The Quarterly Journal of Economics, MIT Press, vol. 122(4), pages 1603-1637, November.
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