How Did the Great Recession Affect New York State's Public Schools?

Rajashri Chakrabarti and Elizabeth Setren

No 20120130, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Surprisingly, there is no literature on how recessions (including the Great Recession) have affected schools. Perhaps this is because educational funding stresses and decisions vary among and within states, which makes it hard to reach general conclusions. Yet schools play an indispensable role in our society, educating the populace and building the nation’s future. Therefore, it is important to understand how the Great Recession is affecting public spending on schools, the delivery of education services, and student learning. In this post, we analyze one state’s experience, drawing on our study “The Impact of the Great Recession on School District Finances: Evidence from New York.” While we do not find evidence of much impact on schools’ overall revenue or expenditures, we do detect important compositional changes that could affect both student learning and school financing in coming years.

Keywords: ARRA; Federal Stimulus; School Finance; New York; Recession (search for similar items in EconPapers)
JEL-codes: Q1 R1 (search for similar items in EconPapers)
Date: 2012-01-30
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:86784

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