学校设施投资对学生和房主的影响：来自洛杉矶的证据

中文摘要

我们利用洛杉矶的行政记录研究学校设施投资。利用新设施启用时间的准随机变异，并采用基于居住地分配的工具变量，我们发现学校设施投资对考试成绩、出勤率和房价产生了正向影响。这些效应并非由班级规模、同伴、教师或校长的变化所驱动，但有一些证据指向设施质量的提高。我们利用推算的未来劳动收入和住房资本化评估项目效率。每投入1美元，该项目为家庭创造了1.62美元的价值，其中约24%直接来自考试成绩的提高，76%来自考试成绩之外的便利与益处的资本化。

Abstract

We study school facility investments using administrative records from Los Angeles. Exploiting quasi-random variation in the timing of new facility openings and using a residential assignment instrument, we find positive impacts on test scores, attendance, and house prices. Effects are not driven by changes in class size, peers, teachers, or principals, but some evidence points toward increased facility quality. We evaluate program efficiency using implied future earnings and housing capitalization. For each dollar spent, the program generated $1.62 in household value, with about 24 percent coming directly through test score gains and 76 percent from capitalization of non-test-score amenities. (JEL H75, H76, I21, I26, J31, R31, R53)