Feng, Hao; Lu, Ming - In: Journal of Housing Economics 22 (2013) 4, pp. 291-307
The endogeneity of education quality and quantity accounts for difficulties in appropriately identifying the causal … relationship between education and housing prices. To determine how education quality is capitalized into housing prices, we deal … with endogeneity bias by employing a natural experiment occasioned by China’s education reforms. Based on monthly panel …