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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...
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equilibrium outcomes in school and housing markets. Geographic admissions criteria segregate schools, but integrate neighborhoods … according to income. Incorporating non-parents into the model challenges the existing understanding of how public schools affect … the housing market: non-parent households dampen the equilibrium price premium around popular schools; non …
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