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Measuring the value of better schools

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  • Sandra E. Black

Abstract

Several researchers have attempted to measure the value of educational quality by examining its impact on wages earned by students later in life. Adopting an alternative approach, the author of this study calculates what people are willing to pay to reside in a community with superior schools. Controlling for neighborhood characteristics and school financial inputs, she finds that a 5 percent increase in the average test scores of an elementary school leads to a 2.1 percent increase in the price of houses in that school's attendance district.

Suggested Citation

  • Sandra E. Black, 1998. "Measuring the value of better schools," Economic Policy Review, Federal Reserve Bank of New York, vol. 4(Mar), pages 87-94.
    • Handle: RePEc:fip:fednep:y:1998:i:mar:p:87-94:n:v.4no.1
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    Cited by:

    1. Barbara M. Fraumeni & Marshall B. Reinsdorf & Brooks B. Robinson & Matthew P. Williams, 2009. "Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary and Secondary Education," NBER Chapters, in: Price Index Concepts and Measurement, pages 373-403, National Bureau of Economic Research, Inc.
    2. Leung, Ambrose & Ferris, J. Stephen, 2008. "School size and youth violence," Journal of Economic Behavior & Organization, Elsevier, vol. 65(2), pages 318-333, February.
    3. Barbara M. Fraumeni & Marshall B. Reinsdorf & Brooks B. Robinson & Matthew P. Williams, 2008. "Price and Real Output Measures for the Education Function of Government: Exploratory Estimates for Primary & Secondary Education," NBER Working Papers 14099, National Bureau of Economic Research, Inc.

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    Keywords

    Education;

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