Chapter

<b>School Vouchers as a Redistributive Device</b>: An Analysis of Three Alternative Systems

Raquel Fernández and Richard Rogerson

in The Economics of School Choice

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226355337
Published online February 2013 | e-ISBN: 9780226355344 | DOI: http://dx.doi.org/10.7208/chicago/9780226355344.003.0007
School Vouchers as a Redistributive Device: An Analysis of Three Alternative Systems

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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

Chapter.  13228 words. 

Subjects: Economics

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