Effects of Child-Care Vouchers on Price, Quantity, and Provider Turnover in Private-Care Markets
研究了私立儿童保育代金券资金增加对当地服务容量、价格及提供者进入退出率的影响，发现每增加100美元可使每名幼儿的私立保育名额增加0.024个，周均价格上升0.56美元，并促使提供者进入率提高0.4个百分点，供给弹性约为11.6。
We harness changes in funding for a voucher that subsidizes private child-care services to quantify funding effects on local service capacity and prices. We also estimate how increased funding affects provider entry rate, exit rate, and highly rated provider market share. The evidence shows that an additional US$100 in private voucher funding per local young child would (1) raise the number of private-provider slots by 0.024 per young child, (2) raise average prices by US$0.56 per week, driven by a price increase among incumbents, and (3) induce provider entry by 0.4 percentage points. The estimates imply elastic supply, estimated at 11.6; funding expands slots with only limited price increases.