Crowded Colleges and College Crowd-Out: The Impact of Public Subsidies on the Two-Year College Market
利用加州社区学院债券公投的断点回归设计，研究发现公共补贴增加会吸引学生从私立转向公立两年制学院，并减少市场上营利性学校的数量。
This study assesses the impact of an increase in funding for public community colleges on the market for two-year college education, considering both the effect on community college enrollments and on the number of proprietary schools in a market. I draw on a new administrative dataset of for-profit colleges in California and votes on local community college bond referenda to implement a unique regression discontinuity design. The results suggest that bond passage diverts students from the private to the public sector and causes a corresponding decline in the number of proprietary schools in the market.