The existence of good schools is expected to increase nearby housing prices. We use a natural experiment from two cities in Korea where the high school entrance system changed from self-selection to geographical assignment. Our empirical results show that the existence of good high schools did increase the nearby housing prices as well as the rental prices.
Bibliographical noteFunding Information:
Minho Kim is grateful to the BK21 Project for financial support.
All Science Journal Classification (ASJC) codes
- Economics and Econometrics