The supply of public school quality
Economics of Education Review Volume 22, Number 4, ISSN 0272-7757 Publisher: Elsevier Ltd
Education economists have estimated many education production functions but they have not estimated a supply curve of public school quality. In order to estimate the supply of public school quality, the price of a unit of public schooling must be found. Invoking the theory of implicit markets, the price of a unit of public school quality is derived from a series of housing market hedonic estimations, in which house price is regressed as a function of school quality. The implicit price is then inserted in an estimation of the supply of public schooling. The estimated price elasticity of supply is 0.14, suggesting that: (1) demand-side policies do not effectively raise the quantity of public schooling supplied; and (2) school funding equalization attempts are not likely to significantly change the quantity of public school outcomes supplied in either rich or poor districts.
Brasington, D.M. (2003). The supply of public school quality. Economics of Education Review, 22(4), 367-377. Elsevier Ltd. Retrieved March 26, 2023 from https://www.learntechlib.org/p/206950/.
This record was imported from Economics of Education Review on March 1, 2019. Economics of Education Review is a publication of Elsevier.Full text is availabe on Science Direct: http://dx.doi.org/10.1016/S0272-7757(02)00074-2
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