This paper analyzes the impact of voter-approved school bond issues on school district balance sheets, local housing … prices, and student achievement. We draw on the unique characteristics of California's system of school finance to obtain … clean identification of bonds' causal effects, comparing districts in which school bond referenda passed or failed by narrow …

In 1994 the state of Michigan implemented one of the most comprehensive school finance reforms undertaken to date in …

the universe of housing transactions for a large sample of school districts; and (ii) using the timelines of school … of the rise in public school spending. School districts did not boost administrative costs with those additional funds … accompanied by improvements in the quality of school inputs …

difficulty in measuring school quality has potentially undermined earlier attempts at achieving unbiased estimates of property … problem of omitted or misspecified measures of school quality by focusing on a segment of the housing market that likely … places little-to-no value on school quality: small homes. Because few households residing in small homes have public school …