We construct a new measure of aggregate U.S. housing wealth based on Zillow’s Automated Valuation Model (AVM). AVMs offer advantages over other methods because they are based on recent market transaction prices, utilize large datasets which include property characteristics and local...

Standard achievement scales aggregate test questions without considering their relationship to economic outcomes. This paper uses question-level data to improve the measurement of achievement in two ways. First, the paper constructs alternative achievement scales by relating individual questions...

This paper describes the construction of the Distributional Financial Accounts (DFAs), a new dataset containing quarterly estimates of the distribution of U.S. household wealth since 1989, and provides the first look at the resulting data. The DFAs build on two existing Federal Reserve Board...

This paper assesses the sensitivity of standard empirical methods for measuring group differences in achievement to violations in the cardinal comparability of achievement test scores. The paper defines a distance measure over possible weighting functions (scalings) of test scores. It then...

Males have greater variability in achievement than females in almost all countries using internationally comparable test scores. However, these variance comparisons can frequently be reversed using economically plausible, order-preserving rescalings of the psychometrically derived test scores....

As income and wealth inequality have grown in the United States in recent decades, the large and growing differences in household expenditures on children from advantaged versus disadvantaged backgrounds have increasingly become a matter of public concern. High socioeconomic status (SES)...