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Do Better Schools Matter? Parental Valuation of Elementary Education, Research Paper 9729

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Do Better Schools Matter? Parental Valuation of Elementary Education, Research Paper 9729

DATE: September 1997

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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 percent more for a 5 percent 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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Black, Sandra E. (Sandra Eilene), 1969-. "Do Better Schools Matter? Parental Valuation of Elementary Education, Research Paper 9729," Research Papers (Federal Reserve Bank of New York) (September 1997). https://fraser.stlouisfed.org/title/6570/item/615581, accessed on March 30, 2023.

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THEMES: CLASSIFICATION:
  • lcc: HG136 .R45 no.9729
IDENTIFIERS:
  • oclc: 37934302
  • repec: fip:fednrp:9729
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