School Finance Reform and the Distribution of Student Achievement
研究了1990年后美国学校财政改革对低收入学区支出和学生成绩的影响，发现改革显著增加支出并逐步提升学生成绩，资源对成绩的影响较大。
We study the impact of post-1990 school finance reforms, during the so-called “adequacy” era, on absolute and relative spending and achievement in low-income school districts. Using an event study research design that exploits the apparent randomness of reform timing, we show that reforms lead to sharp, immediate, and sustained increases in spending in low-income school districts. Using representative samples from the National Assessment of Educational Progress, we find that reforms cause increases in the achievement of students in these districts, phasing in gradually over the years following the reform. The implied effect of school resources on educational achievement is large.