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We examine the welfare effects of provision of local public goods in an empirically relevant setting using a multi-community model with mobile and heterogeneous households, and with flexible housing supplies. We characterize the first-best allocation and show efficiency can be implemented with...
Persistent link: https://www.econbiz.de/10013121991
Two significant challenges hamper analyses of the collective choice of educational vouchers. One is the multi-dimensional choice set arising from the interdependence of the voucher, public education spending, and taxation. Second, even absent a voucher, preferences over public spending are not...
Persistent link: https://www.econbiz.de/10013107767
The main purpose of this paper is to estimate an equilibrium model of private and public school competition that can generate realistic pricing patterns for private universities in the U.S. We show that the parameters of the model are identified and can be estimated using a semi-parametric...
Persistent link: https://www.econbiz.de/10012957373
We review the theoretical, computational, and empirical research on school vouchers, with a focus on the latter. In this substantial body of work, many studies find insignificant effects of vouchers on educational outcomes; however, multiple positive findings support continued exploration....
Persistent link: https://www.econbiz.de/10013016015
We examine majority choice of tax instruments in single- and multi-jurisdictional economies with heterogeneous households. In our framework majority voting equilibrium exists despite the multidimensional policy choice set. We identify five competing incentives that influence choice of tax...
Persistent link: https://www.econbiz.de/10013021486
Epple and Romano (1998) show equilibrium provision of education by public and private schools has the latter skim off the wealthiest and most-able students, and flat-rate vouchers lead to further cream skimming. Here we study voucher design that would inject private-school competition and...
Persistent link: https://www.econbiz.de/10013218400