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Working Paper
The Illusion of School Choice: Empirical Evidence from Barcelona
Guell, Maia; Calsamiglia, Caterina (2014-05-08)
School choice aims to improve (1) the matching between children and schools and (2) students? educa-tional outcomes. Yet, the concern is that disadvantaged families are less able to exercise choice, which raises (3) equity concerns. The Boston mechanism (BM) is a procedure that is widely used around the world to resolve overdemands for particular schools by defining a set of priority points based on neigh-borhood and socioeconomic characteristics. The mechanism design literature has shown that under the BM, parents may not have incentives to provide their true preferences, thereby ...
Working Papers , Paper 712

Working Paper
Seven Economic Facts About the U.S. Racial Wealth Gap
Broady, Kristen; Booth-Bell, Darlene; Griffin, Taylor (2022-07)
Using data from the 2019 Survey of Consumer Finances and the U.S. Census Bureau, along with data and research from other sources, this paper presents seven economic facts about the racial wealth gap in the U.S. We present data on racial disparities in income, employment, homeownership, education, access to credit, and retirement savings – all factors that contribute to a significant and persistent gap in net worth between households of different races and ethnicities, particularly between Black households and White households. While none of the economic factors listed fully explains the ...
Working Paper Series , Paper WP 2022-32

Working Paper
Test Questions, Economic Outcomes, and Inequality
Nielsen, Eric R. (2019-03-04)
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 directly to school completion and labor market outcomes. Second, the paper leverages the question data to construct multiple such scales in order to correct for biases stemming from measurement error. These new achievement scales rank students differently than standard scales and typically yield ...
Finance and Economics Discussion Series , Paper 2019-013

Journal Article
Student Loan Debt: Can Parental College Savings Help?
Grinstein-Weiss, Michal; Lewis, Melinda; Nam, IlSung; Elliott, William (2014)
Postsecondary education costs in the United States today are rising with an increasing shift from societal responsibility to individual burden, thereby driving greater student borrowing. Evidence suggests that (i) such student debt may have undesirable educational effects and potentially jeopardize household balance sheets and (ii) student loans may better support educational attainment and economic mobility if accompanied by other, non-repayable financial awards. However, given declines in need-based aid and falling state support for postsecondary costs, policymakers and parents alike have ...
Review , Volume 96 , Issue 4 , Pages 331-357

Working Paper
An Empirical Analysis of Racial Segregation in Higher Education
Hinrichs, Peter (2014-12-08)
This descriptive paper documents how segregation between blacks and whites across colleges in the United States has evolved since the 1960s. It also explores potential channels through which changes are occurring, and it uses recent data to study the issue of segregation within colleges. The main findings are as follows: (1) White exposure to blacks has been rising since the 1960s, whereas black exposure to whites increased sharply in the late 1960s and early 1970s and has fluctuated since then. Meanwhile, black-white dissimilarity and the Theil index fell sharply in the late 1960s and early ...
Working Papers (Old Series) , Paper 1435

Working Paper
The Impact of Chicago's Small High School Initiative
Claessens, Amy; Schanzenbach, Diane Whitmore; Barrow, Lisa (2014-11-01)
This project examines the effects of the introduction of new small high schools on student performance in the Chicago Public School (CPS) district. Specifically, we investigate whether students attending small high schools have better graduation/enrollment rates and achievement than similar students who attend regular CPS high schools. We show that students who choose to attend a small school are more disadvantaged on average, including having prior test scores that are about 0.2 standard deviations lower than their elementary school classmates. To address the selection problem, we use an ...
Working Paper Series , Paper WP-2014-20

Working Paper
House price growth when children are teenagers: a path to higher earnings?
Cooper, Daniel H.; Luengo-Prado, Maria Jose (2014-12-23)
The United States has a long history of promoting homeownership through the mortgage interest tax deduction, and home equity constitutes an important source of borrowing collateral. There is a sizable body of work studying how fluctuating house prices impact consumer behavior. Since college tuition costs pose a large financial burden for many U.S. families, access to housing equity may impact decisions about pursuing a post-secondary education. This paper adds to the literature by using MSA-level house-price variation and data from the Panel Study of Income Dynamics to study the link between ...
Working Papers , Paper 14-13

Report
Intended college attendance: evidence from an experiment on college returns and costs
Bleemer, Zachary; Zafar, Basit (2015-09-01)
Despite a robust college premium, college attendance rates in the United States have remained stagnant and exhibit a substantial socioeconomic gradient. We focus on information gaps?specifically, incomplete information about college benefits and costs?as a potential explanation for these patterns. For this purpose, we conduct an information experiment about college returns and costs embedded within a representative survey of U.S. household heads. We show that, at the baseline, perceptions of college costs and benefits are severely and systematically biased: 75 percent of our respondents ...
Staff Reports , Paper 739

Working Paper
Saving the American Dream? Education Policies in Spatial General Equilibrium
Kleineberg, Tatjana; Eckert, Fabian (2021-03-22)
Children's education and economic opportunities differ substantially across US neighborhoods. This paper develops and estimates a spatial equilibrium model that links children's education outcomes to their childhood location. Two endogenous factors determine education choices in each location: local education quality and local labor market access. We estimate the model with US county-level data and study the effects of a school funding equalization on education outcomes and social mobility. The reform's direct effects improve education outcomes among children from low-skill families. However, ...
Opportunity and Inclusive Growth Institute Working Papers , Paper 47

Working Paper
The Racial Wealth Gap, Financial Aid, and College Access
Levine, Phillip B.; Ritter, Dubravka (2022-09-26)
We examine how the racial wealth gap interacts with financial aid in American higher education to generate a disparate impact on college access and outcomes. Retirement savings and home equity are excluded from the formula used to estimate the amount a family can afford to pay. All else equal, omitting those assets mechanically increases the financial aid available to families that hold them. White families are more likely to own those assets and in larger amounts. We document this issue and explore its relationship with observed differences in college attendance, types of institutions ...
Working Papers , Paper 22-32

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