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The Economics of School Choice$
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Caroline M. Hoxby

Print publication date: 2003

Print ISBN-13: 9780226355337

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226355344.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 21 October 2019

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 Fernández

Richard 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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