Using market valuation to assess public school spending

• 成果类型: Article
• 署名作者: Barrow, L; Rouse, CE
• 署名单位: Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(03)00024-0
• 发表日期: 2004
• 页码: 1747-1769
• 关键词: School choice; Education spending; EFFICIENCY; COMPETITION; Tiebout

摘要

We examine whether school expenditures are valued by potential residents and whether the current level of public school provision is inefficient by estimating the effect of state education aid on residential property values. We find evidence that, overall, state aid is valued by potential residents and that school districts do not overspend on education. However, we find that districts may overspend in areas where residents have fewer schooling options but find no difference in efficiency by the degree of district unionization. One interpretation of these results is that increased competition may reduce overspending on public schools in some areas. (C) 2003 Elsevier B.V. All rights reserved.