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School Vouchers as a Redistributive Device: An Analysis of Three Alternative Systems

School Vouchers as a Redistributive Device: An Analysis of Three Alternative Systems

Chapter:
(p.195) 6 School Vouchers as a Redistributive Device: An Analysis of Three Alternative Systems
Source:
The Economics of School Choice
Author(s):
Raquel FernándezRichard Rogerson
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226355344.003.0007

This chapter examines the consequences of several school voucher programs that serve to redistribute income in a manner which affects the distribution of the quality of education across students. It considers three voucher programs: the lump-sum, means-tested, and means-equalizing voucher programs. The analysis reveals that vouchers, especially the power-equalizing vouchers, generate large increases in a nation's income and well-being. This is because they generate more optimal investments in education than any version of current school finance operating at the district level could.

Keywords:   school voucher, income redistribution, quality of education, power-equalizing vouchers, investments in education, school finance

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