This paper identifies which investments in school facilities help students and are valued by homeowners. Using novel … data on school district bonds, test scores, and house prices for 29 U.S. states and a research design that exploits close … elections with staggered timing, we show that increased school capital spending raises test scores and house prices on average …

Geographic school admissions criteria bind residential and school choices for some parents, and could create … the policy decision of geographic versus non-geographic school admissions criteria has important implications for … equilibrium outcomes in school and housing markets. Geographic admissions criteria segregate schools, but integrate neighborhoods …