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ERIC Number: ED093076
Record Type: Non-Journal
Publication Date: 1974-Feb
Pages: 33
Abstractor: N/A
Reference Count: N/A
The Economic Returns to Increased Educational Spending.
Ribich, Thomas; Murphy, James
Using Project Talent and census data, estimates are made with a recursive model to explain scores on standardized tests, school continuation behavior, and lifetime income. Exogenous variables include socioeconomic backgrounds of students and their classmates, school spending, race, and region. The results suggest that: (1) school spending has its main impact on income through the channel of school continuation; (2) the time-discounted income gains associated with increased educational spending are smaller than the requisite spending increase; and (3) cross-sectional test score information can yield misleading results about the long-term effectiveness of schooling improvements. The results are reconciled with basic theoretical propositions in economics. (Author)
Publication Type: Speeches/Meeting Papers
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: N/A