Literaturnachweis - Detailanzeige
Autor/inn/en | Gilraine, Michael; Graham, James; Zheng, Angela |
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Institution | National Bureau of Economic Research |
Titel | Public Education and Intergenerational Housing Wealth Effects. |
Quelle | Cambridge, Mass: National Bureau of Economic Research (2023)
PDF als Volltext (1); PDF als Volltext (2) |
Reihe | NBER working paper series. w31345 |
Beigaben | Illustrationen |
Sprache | englisch |
Dokumenttyp | online; Monographie; Graue Literatur |
DOI | 10.3386/w31345 |
Schlagwörter | Bildungschance; Übertragung; Generation; Generationenbeziehung; Schule; Humankapital; Immobilienmarkt; Vermögen (Wirtsch); Arbeitspapier; Generationswechsel; USA |
Abstract | While rising house prices benefit existing homeowners, we document a new channel through which price shocks have intergenerational wealth effects. Using panel data from school zones within a large U.S. school district, we find that higher local house prices lead to improvements in local school quality, thereby increasing child human capital and future incomes. We quantify this housing wealth channel using an overlapping generations model with neighborhood choice, spatial equilibrium, and endogenous school quality. Housing market shocks in the model generate large intra- and intergenerational wealth effects, with the latter accounting for over half of total wealth effects. |
Erfasst von | ZBW - Leibniz-Informationszentrum Wirtschaft, Kiel |
Update | 2024/1 |