We study the relationship between school characteristics and housing prices in Mecklenburg County, North Carolina, between 1994 and 2001. During this period, the school district was operating under a court-imposed desegregation order and drew school boundaries so that students living in the same...

This paper clarifies four areas of confusion about value-added methodology and its role in teacher evaluation: (1) use of value-added information; (2) consequences for teachers versus those for students of classifying and misclassifying teachers as effective or ineffective; (3) reliability of...

This paper develops asymptotic distribution theory for instrumental variables regression when the partial correlations between the instruments and the endogenous variables are weak, here modeled as local to zero. Asymptotic representation are provided for various statistics, including two-stage...