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Working Paper 2003-039E Search | View by Year | View by Category | View by Author | View by JEL Code"Nonlinear Hedonics and the Search for School District Quality"
We reexamine the relationship between school quality and house prices and find it to be nonlinear. Unlike most studies in the literature, we find that the price premium parents must pay to buy a house associated with a better school increases as school quality increases. This is true even after controlling for neighborhood characteristics, such as the racial composition of neighborhoods, which is also capitalized into house prices. In contrast with previous studies that use the boundary discontinuity approach, we find that the price premium from school quality remains substantially large, particulary for neighborhoods associated with high-quality schools. Full Text - Acrobat PDF (240k) Notify Me of Updates for:
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