Finance

Research showing that high-quality preschool benefits children’s early learning and later life outcomes has led to increased state engagement in public preschool. However, mixed results from evaluations of two programs—Tennessee’s Voluntary Pre-K program and Head Start—have left many… more →

This report synthesizes the research evidence about the impact of community schools on student and school outcomes. Its aim is to support and inform school, community, district, and state leaders as they consider, propose, or implement community schools as a strategy for providing equitable,… more →

I compare per pupil revenues, expenditures, and performance levels in public charter schools to district-run public schools in Texas for the 2017-18 school year. After controlling for several school and student characteristics, I find that public charter schools are funded around $1,700 (15… more →

The efficiency-equity trade-offs in public service delivery may be influenced by the dependency of local governments on their own resources rather than inter-governmental grants. School districts in the United States are expected both to produce human capital efficiently and to provide… more →

Use of education finance data is ubiquitous. Yet, because the academic calendar circumscribes two calendar years, researchers have linked the Consumer Price Index to three different dates: the Fall, Spring and academic fiscal years. We demonstrate that linking the CPI to these different academic… more →

Do nudge interventions that have generated positive impacts at a local level maintain efficacy when scaled state or nationwide? What specific mechanisms explain the positive impacts of promising smaller-scale nudges? We investigate, through two randomized controlled trials, the impact of a… more →

The Post-9/11 GI Bill allows service members to transfer generous education benefits to a dependent. We run a large scale experiment that encourages service members to consider the transfer option among a population that includes individuals for whom the transfer benefits are clear and… more →

Evidence-based policy is the practice of basing policy decisions on rigorous research evidence, such as randomized experiments. But it is unclear how often evidence-based decisions produce more effective policy. We evaluate an evidence-based policy implemented in 1989-93, after the state of… more →

The ongoing crisis in teacher pension funding has led states to consider various reforms in plan design, to replace the traditional benefit formulas, based on years of service and final average salary (FAS).  One such design is a cash balance (CB) plan, long deployed in the private sector,… more →

Student loan borrowing for higher education has emerged as a top policy concern. Policy makers at the institutional, state, and federal levels have pursued a variety of strategies to inform students about loan origination processes and how much a student has cumulatively borrowed, and to provide… more →

Estimates of school voucher impacts on educational attainment have yet to explore heterogeneities in socioeconomic status among disadvantaged minority students. We theorize reasons for these heterogeneities and then estimate experimentally the differential impacts of voucher offers on college… more →

Despite large and growing student loan balances, there is relatively little evidence on the effects of access to student loans on borrowing and educational outcomes. We examine the effect of access to credit by using policy variation in the maximum federal student loan amounts available to U.S.… more →

We leverage an obscure set of rules in Texas’s school funding formula granting some districts additional revenue as a function of size and sparsity. We use variation from kinks and discontinuities in this formula to ask how districts spend additional discretionary funds, and whether these… more →

Sixty-seven school finance reforms (SFRs), a combination of court-ordered and legislative reforms, have taken place since 1990; however, there is little empirical evidence on the heterogeneity of SFR effects. In this study, we estimate the effects of SFRs on revenues and expenditures between… more →

School finance reforms caused some of the most dramatic increases in intergovernmental aid from states to local governments in U.S. history. We examine whether teachers’ unions affected the fraction of reform-induced state aid that passed through to local spending and the allocation of these… more →

We use close tax elections to estimate the impact of school district funding increases on operational spending and student outcomes across seven states. Districts with passing levies directed new revenue toward support services and instructor salaries but did not increase teacher staffing levels… more →

Contradictory evidence of the relationship between education funding and student achievement could reflect heterogeneous effects by revenue source or student characteristics. This study examines potential heterogeneous effects of a particular type of local revenue – bond funds for capital… more →

Teachers’ impact on student long-run success is only partially explained by their contributions to students’ short-run academic performance. For this study, we explore a second dimension of teacher effectiveness by creating measures of teachers’ contributions to student class-attendance. We find… more →