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Is There An Equity Efficiency Trade Off In School Finance
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Book Synopsis Is There an Equity-efficiency Trade-off in School Finance? by : Caroline Minter Hoxby
Download or read book Is There an Equity-efficiency Trade-off in School Finance? written by Caroline Minter Hoxby and published by . This book was released on 1995 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: New empirical work shows the degree of competition among public providers of local public goods or between public and private providers of local public goods matters. This evidence needs a theory of the local public goods producer. Tiebout's hypothesis spawned a literature that gives local public economics a useful theory of the consumer which can generate a theory of the local public goods producer. This potential has remained largely undeveloped apart from Tiebout's vision of the local public goods producer as an entrepreneur, which is unrealistic because local public goods are nonverifiable. The Tiebout mechanism does not operate in alternative models of the local public goods producer, such as bureaucracy and agenda models. None of these models is useful for predicting how local public goods producers react to policies that change the structure of local public finance. This paper builds a theory of the producer that draws upon Tiebout's mechanism and the theory of incentives for regulation. I find that Tiebout's mechanism generates information that can be used in regulatory schemes to achieve lower costs for any given provision of local public goods. Thus, we face a fundamental trade-off between promoting equitable consumption of the public good and promoting efficiency in production of the public good. This trade-off exists even when equity in consumption generates positive externalities, as is often suggested of the consumption of schooling. I present evidence that when the Tiebout mechanism for schools is weakened by state-level school funding, per-pupil costs rise and the growth of educational attainment falls. This implies that losses from inefficient production generally outweigh gains from equalized consumption.
Book Synopsis For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation by : Mr. Andrew Berg
Download or read book For the Benefit of All: Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation written by Mr. Andrew Berg and published by International Monetary Fund. This book was released on 2021-07-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation.
Book Synopsis The Efficiency of Equity in Local Government Finance by : Zachary D. Liscow
Download or read book The Efficiency of Equity in Local Government Finance written by Zachary D. Liscow and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For generations, debates over what level of government should pay for local government services -- most notably school funding -- have boiled down to a simple pair of assumptions. Having the state or federal government pay for services promotes equality across rich and poor areas, but prevents local tailoring and thereby reduces citizens' choice sets. Economists call this an equity-efficiency tradeoff -- centralized funding promotes equity but undermines efficiency. This Article argues that this presumed tradeoff is not as stark as generally thought, as it ignores important and underappreciated reasons that centralization promotes choice and thus efficiency. Specifically, more centralized funding helps people live where they prefer to live, unburdened by artificially needing to pay more for services in poor jurisdictions with large numbers of impoverished households who can pay little for services themselves. This insight should not only shift the scholarly debate on the equity-efficiency trade-off, but also supplies important, real-world payoffs for debates over school funding and similar programs. Put simply, centralized funding promotes equality and, by promoting choice, also efficiency.The Article does not merely make a theoretical argument; it also empirically tests the claim using natural experiments across the country in centralizing state funding for schools. The Article finds large efficiency benefits. The results also show that more centralized financing has encouraged people to move back to central cities, suggesting a second, hidden efficiency benefit to more centralized financing: it promotes the positive externalities associated with central city living. The Article thus suggests that centralized funding is one of the rare policies capable of garnering the support of both sides of the aisle, something that could fundamentally reshape not just academic debates over fiscal federalism, but also education policy and urban living going forward.
Book Synopsis Equity and Adequacy in Education Finance by : National Research Council
Download or read book Equity and Adequacy in Education Finance written by National Research Council and published by National Academies Press. This book was released on 1999-02-12 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spending on K-12 education across the United States and across local school districts has long been characterized by great disparitiesâ€"disparities that reflect differences in property wealth and tax rates. For more than a quarter-century, reformers have attempted to reduce these differences through court challenges and legislative action. As part of a broad study of education finance, the committee commissioned eight papers examining the history and consequences of school finance reform undertaken in the name of equity and adequacy. This thought-provoking, timely collection of papers explores such topics as: What do the terms "equity" and "adequacy" in school finance really mean? How are these terms relevant to the politics and litigation of school finance reform? What is the impact of court-ordered school finance reform on spending disparities? How do school districts use money from finance reform? What policy options are available to states facing new challenges from court decisions mandating adequacy in school finance? When measuring adequacy, how do you consider differences in student needs and regional costs?
Author :Richard Cookson Publisher :Handbooks in Health Economic Evaluation ISBN 13 :0198838190 Total Pages :385 pages Book Rating :4.1/5 (988 download)
Book Synopsis Distributional Cost-Effectiveness Analysis by : Richard Cookson
Download or read book Distributional Cost-Effectiveness Analysis written by Richard Cookson and published by Handbooks in Health Economic Evaluation. This book was released on 2020-09-30 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health inequalities blight lives, generate enormous costs, and exist everywhere. This book is the definitive all-in-one guide for anyone who wishes to learn about, commission, and use distributional cost-effectiveness analysis to promote both equity and efficiency in health and healthcare.
Book Synopsis Equality and Efficiency REV by : Arthur M. Okun
Download or read book Equality and Efficiency REV written by Arthur M. Okun and published by Brookings Institution Press. This book was released on 2015-04-30 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
Book Synopsis Education Finance, Equality, and Equity by : Iris BenDavid-Hadar
Download or read book Education Finance, Equality, and Equity written by Iris BenDavid-Hadar and published by Springer. This book was released on 2018-08-13 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume revisits educational equality and equity issues, especially, in education finance-related topics consisting of 15 chapters and organized in two parts. The first part of the volume entitled “Education Finance”, focuses on equity aspects of resource allocation and its influence on education. The second part, entitled “Educational Equality and Equity”, focuses on the conceptualization, and the measurements of educational inequity, and inequality with special emphasis on the cost of inequality. The field of education finance has been significantly influencing policy-makers in many countries in recent years. This volume is focused on equity and equality in education finance in an international frame. This book would be of interest to (1) scholars at the fields of education finance, economics of education, and educational policy, (2) graduate students at the course of school finance or economics of education, and (3) local and global policy makers at the fields of education policy, and education finance.
Book Synopsis Making Money Matter by : National Research Council
Download or read book Making Money Matter written by National Research Council and published by National Academies Press. This book was released on 1999-11-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States annually spends over $300 billion on public elementary and secondary education. As the nation enters the 21st century, it faces a major challenge: how best to tie this financial investment to the goal of high levels of achievement for all students. In addition, policymakers want assurance that education dollars are being raised and used in the most efficient and effective possible ways. The book covers such topics as: Legal and legislative efforts to reduce spending and achievement gaps. The shift from "equity" to "adequacy" as a new standard for determining fairness in education spending. The debate and the evidence over the productivity of American schools. Strategies for using school finance in support of broader reforms aimed at raising student achievement. This book contains a comprehensive review of the theory and practice of financing public schools by federal, state, and local governments in the United States. It distills the best available knowledge about the fairness and productivity of expenditures on education and assesses options for changing the finance system.
Book Synopsis K-12 Education Finance by : Anthony Rolle
Download or read book K-12 Education Finance written by Anthony Rolle and published by Taylor & Francis. This book was released on 2024-01-26 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Education finance researchers tend to organize their thoughts on important issues by considering one of the four foundational perspectives: equity, efficiency, liberty, and adequacy. The six essays presented in this special edition of the Peabody Journal of Education base their work within the context of the four pillars and present new directions for future research. While some of the articles isolate a concept for closer scrutiny, others draw attention to more interactive aspects of the pillars in question. Each article leaves the reader with important information and insightful questions about both the usuage and efficacy of education finance policies.
Book Synopsis Equity in Educational Expenditures by : Jishnu Das
Download or read book Equity in Educational Expenditures written by Jishnu Das and published by World Bank Publications. This book was released on 2004 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Research in Education Finance and Policy by : Helen F. Ladd
Download or read book Handbook of Research in Education Finance and Policy written by Helen F. Ladd and published by Routledge. This book was released on 2012-08-21 with total page 786 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sponsored by the Association for Education Finance and Policy (AEFP), this groundbreaking new handbook assembles in one place the existing research-based knowledge in education finance and policy, thereby helping to define this evolving field of research and practice. It provides a readily available resource for anyone seriously involved in education finance and policy in the United States and around the world. The Handbook traces the evolution of the field from its initial focus on school inputs and the revenue sources used to finance these inputs to a focus on educational outcomes and the larger policies used to achieve them. It shows how the current decision-making context in school finance inevitably interacts with those of governance, accountability, equity, privatization, and other areas of education policy. Because a full understanding of the important contemporary issues requires input from a variety of perspectives, the Handbook draws on contributors from a variety of disciplines. While many of the chapters cover complex state-of-the-art empirical research, the authors explain key concepts in language that non-specialists can understand.
Book Synopsis School Finance by : Richard Auld King
Download or read book School Finance written by Richard Auld King and published by Allyn & Bacon. This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of this book explores traditional economic and political models and contemporary issues that affect the social, political, and economic state of schools. Like the previous two editions, this edition takes a balanced approach to understanding school finance issues by using paradigms of both the economist and the political scientist. Part I begins with a discussion of the educational decision-making process in a political-economic system divided between public and private sectors. Part II examines the sources of money that society devotes to support public education. Part III focuses on the merits and structures of general and categorical aid programs at state and federal levels in the United States. Part IV examines the potential of school finance policies to achieve high standards. Part V examines how changing the incentives provided by financial rewards in state policies and by teacher compensation within districts might improve school and student performance. Part VI concludes with a discussion of some implications of the systemic-reform movement on the changing policy context. (Contains a name index and a subject index.) (WFA).
Book Synopsis Equity and Adequacy in Education Finance by : National Research Council
Download or read book Equity and Adequacy in Education Finance written by National Research Council and published by National Academies Press. This book was released on 1999-03-12 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spending on K-12 education across the United States and across local school districts has long been characterized by great disparitiesâ€"disparities that reflect differences in property wealth and tax rates. For more than a quarter-century, reformers have attempted to reduce these differences through court challenges and legislative action. As part of a broad study of education finance, the committee commissioned eight papers examining the history and consequences of school finance reform undertaken in the name of equity and adequacy. This thought-provoking, timely collection of papers explores such topics as: What do the terms "equity" and "adequacy" in school finance really mean? How are these terms relevant to the politics and litigation of school finance reform? What is the impact of court-ordered school finance reform on spending disparities? How do school districts use money from finance reform? What policy options are available to states facing new challenges from court decisions mandating adequacy in school finance? When measuring adequacy, how do you consider differences in student needs and regional costs?
Book Synopsis The Economics of School Choice by : Caroline M. Hoxby
Download or read book The Economics of School Choice written by Caroline M. Hoxby and published by University of Chicago Press. This book was released on 2007-11-01 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now that the U.S. Supreme Court has declared school voucher programs constitutional, the many unanswered questions concerning the potential effects of school choice will become especially pressing. Contributors to this volume draw on state-of-the-art economic methods to answer some of these questions, investigating the ways in which school choice affects a wide range of issues. Combining the results of empirical research with analyses of the basic economic forces underlying local education markets, The Economics of School Choice presents evidence concerning the impact of school choice on student achievement, school productivity, teachers, and special education. It also tackles difficult questions such as whether school choice affects where people decide to live and how choice can be integrated into a system of school financing that gives children from different backgrounds equal access to resources. Contributors discuss the latest findings on Florida's school choice program as well as voucher programs and charter schools in several other states. The resulting volume not only reveals the promise of school choice, but examines its pitfalls as well, showing how programs can be designed that exploit the idea's potential but avoid its worst effects. With school choice programs gradually becoming both more possible and more popular, this book stands out as an essential exploration of the effects such programs will have, and a necessary resource for anyone interested in the idea of school choice.
Book Synopsis The Effect of the Quasi-market on the Efficiency-equity Trade-off in the Secondary School Sector by : Steve Bradley
Download or read book The Effect of the Quasi-market on the Efficiency-equity Trade-off in the Secondary School Sector written by Steve Bradley and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis School Funding and Student Achievement by : Andy Spears
Download or read book School Funding and Student Achievement written by Andy Spears and published by Springer. This book was released on 2014-10-07 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Brief explores school funding reform in the states of Kentucky and Tennessee. In 1990, Kentucky passed the Kentucky Education Reform Act designed to overhaul that state’s education system. Two years later, Tennessee passed the Education Improvement Act which included the Basic Education Plan, designed to foster equity in funding among the state’s schools. Initiated as a result of lawsuits against the states’ educational systems, both programs dealt with school funding, specifically funding equalization among districts. This Brief examines the environments that precipitated funding reform in each state as well as the outcomes of the reforms on student achievement. The similarities and differences between the approaches in each state are analyzed and compared to related reform programs in other states. An in-depth study of regional educational reform in the United States, this Brief is of use to public policy scholars as well as education policy consultants and other school system or state education leaders.
Book Synopsis School Finance Reform by : William A. McEachern
Download or read book School Finance Reform written by William A. McEachern and published by . This book was released on 1977 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
