Public Education Inequality and Intergenerational Mobility
研究发现美国公立学校依赖地方房产税融资的机制降低了代际流动性，并解释了房价与流动性之间的空间相关性；住房券实验和房产税收入均等化政策能改善流动性，但收益需多代才能实现。
Public school funding depends heavily on local property tax revenue. Consequently, low-income households have limited access to quality education in neighborhoods with high house prices. In a dynamic life-cycle model with neighborhood choice and endogenous local school quality, we show that this property tax funding mechanism reduces intergenerational mobility and accounts for the spatial correlation between house prices and mobility. A housing voucher experiment improves access to schools, with benefits that can last for multiple generations. Additionally, a policy that redistributes property tax revenues equally across schools improves mobility and welfare. However, the benefits can take generations to be realized.