《DOES MONEY MATTER?》

1. Introduction and Summary1

School Differences and Student Achievement4

Educational Resources and Earnings12

Reconciling the Results16

The Evidence in This Book20

School Resources and Student Performance21

The Relation between School Resources and Student Performance24

Evidence from Fifteen Schools in Austin26

Labor Market Effects of School Quality27

Is There a Link between School Inputs and Earnings?32

Does Measured School Quality Really Matter?36

Conclusion40

References41

2. School Resources and Student Performance43

The Aggregate Story44

Approaches to Analyzing the Use of School Resources52

Educational Production Function Estimates54

Wage Determination Models with School Resources62

Conclusions68

References70

3. Have Times Changed? The Relation between School Resources and Student Performance74

Aggregate Data74

Educational Production Function Estimates80

Improving Research on Resource Utilization88

References90

4. Evidence from Fifteen Schools in Austin, Texas91

5. Labor Market Effects of School Quality: Theory and Evidence97

A Theoretical Model of School Quality, Education, and Earnings100

Summary of the Literature104

Lessons from the Experiences of Southern-Born Blacks128

Conclusions133

References136

6. Is There a Link between School Inputs and Earnings? Fresh Scrutiny of an Old Literature141

The Direct Impact of School Inputs on Earnings143

Five Hypotheses to Explain the Observed Patterns163

The Impact of School Inputs on Educational Attainment178

Suggestions for Future Research182

Conclusion183

Appendix A: A Response to Card and Krueger185

References188

7. Does Measured School Quality Really Matter? An Examination of the Earnings-Quality Relationship192

The Empirical Plan and the Framework for Organizing the Evidence198

A Comparison of the Aggregate- and Individual-Level Data Approaches207

Migration: The Source of Identifying Information in Aggregate-Data Models209

Testing Monotonicity of the Quality-Earnings Relationship213

An Empirical Exploration of Two Representative Models220

Conclusion252

Appendix A: Description of the Analysis Samples254

Appendix B: Schooling Quality Data Sources257

Appendix C: Additional Tables260

Appendix D: Rejoinder to David Card and Alan Krueger281

References288

Index290