PROPERTY LEFT BEHIND: AN UNINTENDED CONSEQUENCE OF A NO CHILD LEFT BEHIND “FAILING” SCHOOL DESIGNATION
研究发现，美国《不让一个孩子掉队》法案中“失败”学校的认定显著降低了低收入社区的房价，这种负面效应源于公众对学校质量的感知或社会污名，而非传统考试成绩指标。
ABSTRACT Under the No Child Left Behind Act (NCLB), schools receiving Title I funding that fail to meet adequate academic performance targets for two consecutive years are deemed “failing.” This broadly defined, but often misunderstood designation has exerted a negative and unintended effect on low‐income neighborhoods—the same neighborhoods NCLB was originally intended to help. Specifically, we find that “failing” designations significantly decrease home prices. This property value response is observed even after controlling for a myriad of traditional test score measures and school‐level student demographics. Additional analyses suggest that this home price effect is largely due to strong perceptions of poor school quality or social stigma surrounding a “failing” designation.