Does Money Still Matter? Attainment and Earnings Effects of Post-1990 School Finance Reforms

Jesse Rothstein and Diane Schanzenbach

No 29177, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Card and Krueger (1992a,b) used labor market outcomes to study the productivity of school spending. Following their lead, we examine effects of post-1990 school finance reforms on students’ educational attainment and labor market outcomes. Lafortune et al. (2018) show that these reforms increased school spending and narrowed spending and achievement gaps between high- and low-income districts. Using a state-by-cohort panel design, we find that reforms increased high school completion and college-going, concentrated among Black students and women, and raised annual earnings. They also increased the return to education, particularly for Black students and men and driven by the return to high school.

JEL-codes: I21 I24 J24 (search for similar items in EconPapers)
Date: 2021-08
New Economics Papers: this item is included in nep-edu, nep-isf, nep-lma and nep-ure
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Published as Jesse Rothstein & Diane Whitmore Schanzenbach, 2022. "Does Money Still Matter? Attainment and Earnings Effects of Post-1990 School Finance Reforms," Journal of Labor Economics, vol 40(S1), pages S141-S178.

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