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The capitalisation of school choice into property prices: A case study of grammar and all ability state schools in Buckinghamshire, UK

机译:学校选择的资本化转化为房地产价格:以英国白金汉郡的语法和全能公立学校为例

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There has been a growing academic and policy debate in the UK on the relationship between school choice, educational performance and house prices. School choice and the chances of attending a good school are important as it relates strongly to educational attainment and qualifications, University entry and access to the labour market. This debate was reinvigorated recently when the Conservative Party announced that state schools which select using academic ability (grammar schools) may be able to expand in England for the first time in decades. Some commentators argued that this may exacerbate and re-enforce existing inequalities in the education system by allowing wealthy parents to ‘buy’ into a particular grammar school via the housing market, leading to “selection by mortgage” as well as by academic ability. This research investigates the extent to which state schools are capitalised into house prices using Buckinghamshire in England as a case study. It differentiates between grammar schools and all ability state schools, using a novel multi-level specification of the repeat sales model. It concludes that single sex boys’ grammar schools attract a higher premium than single sex girls’ grammar schools and that in general, grammar schools attract a higher premium than all ability state schools. These premiums are a function of educational attainment and demand for places and tend to vanish once these have been taken into account, although for a small number of schools notable premiums remain, perhaps reflecting school characteristics such as reputation not captured in the models.
机译:关于学校选择,教育表现和房价之间的关系,英国的学术和政策辩论越来越多。学校的选择和入读一所好学校的机会很重要,因为这与学历和学历,大学的录取以及进入劳动力市场的机会密切相关。保守党最近宣布,利用学术能力进行选拔的公立学校(语法学校)可能能够在英格兰进行数十年来的首次扩张,从而使这场辩论更加活跃。一些评论员认为,通过允许富裕的父母通过住房市场“购买”特定的语法学校,这可能加剧并加剧教育系统中的不平等现象,从而导致“按揭选择”和学术能力的提高。这项研究以英格兰的白金汉郡为例,研究了国立学校在多大程度上被资本化为房价。它使用重复销售模型的新颖多层次规范来区分语法学校和所有能力州立学校。结论是,单性男生的文法学校比单性女生的文法学校收入更高,总的来说,文法学校比所有能力的州立学校都更高。这些溢价是受教育程度和对学位需求的函数,一旦考虑了这些因素,这些溢价就趋于消失,尽管对于少数学校而言,仍存在显着的溢价,这可能反映了学校特征,例如模型中未记录的声誉。

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