This paper reports the results of an hedonic pricing analysis of a regional thoroughbred auction market, adding to a literature which has been built mainly on data from elite auction markets. The main contribution of the paper is the finding that the role of the dam in affecting yearling price,...

In June 2003 the New York State Court of Appeals altered the education-finance landscape with its ruling in Campaign for Fiscal Equity v. New York. This ruling called for “[r]eforms to the current system of financing school funding” designed to ensure “that every school in New York City...

New York’s School Tax Relief Program, STAR, provides state-funded property tax relief for homeowners. Like a matching grant, STAR changes the price of education, thereby altering the incentives of voters and school officials and leading to unintended consequences. Using data for New York...

Addresses how well state government tax policy in the 1980's matched the socio-economic changes they faced. Summarizes the demographic and economic trends in five northeastern states over the last twenty years.

State education officials have implemented performance standards, but state education aid has not kept up. By focusing on the relationship between spending and property wealth, most existing aid formulas only partially account for cost differences across districts and, thus, fail to fully...