Capitalising the value of free schools: The impact of supply characteristics and uncertainty
This paper explores the sources and impact of variations of a given school quality at either primary or secondary level as capitalised into the price of houses. The results provide new evidence on the complex and subtle ways in which housing markets capitalise the value of local public goods such as...
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| Veröffentlicht in: | The Economic journal (London) 2004-11, Vol.114 (499), p.F397-F424 |
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| container_end_page | F424 |
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| container_issue | 499 |
| container_start_page | F397 |
| container_title | The Economic journal (London) |
| container_volume | 114 |
| creator | Cheshire, Paul Sheppard, Stephen |
| description | This paper explores the sources and impact of variations of a given school quality at either primary or secondary level as capitalised into the price of houses. The results provide new evidence on the complex and subtle ways in which housing markets capitalise the value of local public goods such as school quality and suggest that this is highly nonlinear. We expect variation in the capitalised price according to the elasticity of supply of 'school quality' in the local market, the certainty with which that quality can be expected to be maintained and the suitability of the dwelling to accommodate children. |
| doi_str_mv | 10.1111/j.1468-0297.2004.00252.x |
| format | Article |
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| identifier | ISSN: 0013-0133 |
| ispartof | The Economic journal (London), 2004-11, Vol.114 (499), p.F397-F424 |
| issn | 0013-0133 1468-0297 1468-0297 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37987401 |
| source | EBSCOhost Business Source Complete; Access via Wiley Online Library; JSTOR Archive Collection A-Z Listing; Oxford University Press Journals All Titles (1996-Current) |
| subjects | Dienstleistung Economic models Economic theory Economic value Education policy Educational quality Elementary schools Feature: The Price of Access to Better Neighbourhoods Free schools Houses Housing Housing prices Immobilienmarkt Inflation Land use London Neighbourhoods Parametric models Preisindex Public good Public goods Quality of education Qualität Residential differentiation Residential mobility Schools Schule Secondary schools Studies Supply |
| title | Capitalising the value of free schools: The impact of supply characteristics and uncertainty |
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