The Value of School Facility Investments : Evidence from a Dynamic Regression Discontinuity Design ∗

@inproceedings{CELLINI2010TheVO,
  title={The Value of School Facility Investments : Evidence from a Dynamic Regression Discontinuity Design ∗},
  author={STEPHANIE RIEGG CELLINI and Fernando Ferreira and Jesse Rothstein},
  year={2010}
}
Despite extensive public infrastructure spending, surprisingly little is known about its economic return. In this paper, we estimate the value of school facility investments using housing markets: standard models of local public goods imply that school districts should spend up to the point where marginal increases would have zero effect on local housing prices. Our research design isolates exogenous variation in investments by comparing school districts where referenda on bond issues targeted… CONTINUE READING