Physical capital represents an important input to the production of higher education--the essential services of buildings, equipment, and land--for which we have only highly inadequate measures. This paper has three objectives: to report estimates of the value of the capital stocks used by 3,148...

Data from a panel of 2,269 colleges and universities track the major changes in educational costs, prices, subsidies, and financial aid over the seven eventful years from 1986-87 to 1993-94.