Finance and Economics Discussion Series: 2009-18 Screen Reader version
Fiscal Amenities, School Finance Reform and the Supply Side of the Tiebout Market (Figure Data)
Figure 2A: Education Funding by Level of Government
Panel A: Local Share of Education Funding
Panel A: Local Share of Education Funding
| 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|---|
| Connecticut | 0.599 | 0.601 | 0.592 | 0.575 | 0.562 | 0.575 | 0.574 | 0.586 |
| Maine | 0.492 | 0.496 | 0.497 | 0.495 | 0.498 | 0.497 | 0.492 | 0.500 |
| Massachusetts | 0.571 | 0.511 | 0.537 | 0.521 | 0.531 | 0.542 | 0.525 | 0.524 |
| New Hampshire | 0.897 | 0.892 | 0.868 | 0.871 | 0.398 | 0.434 | 0.435 | 0.458 |
| Rhode Island | 0.542 | 0.547 | 0.543 | 0.522 | 0.525 | 0.525 | 0.525 | 0.522 |
Note. Data from Census Bureau School Finance data, New Hampshire Department of Education and New Hampshire Department of Revenue Administration.
Figure 2: Education Funding by Level of Government
Panel B: State Share of Education Funding
Panel B: State Share of Education Funding
| 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|---|
| Connecticut | 0.366 | 0.366 | 0.370 | 0.386 | 0.397 | 0.384 | 0.381 | 0.363 |
| Maine | 0.453 | 0.453 | 0.449 | 0.451 | 0.442 | 0.442 | 0.436 | 0.421 |
| Massachusetts | 0.384 | 0.444 | 0.415 | 0.429 | 0.418 | 0.411 | 0.421 | 0.414 |
| New Hampshire | 0.070 | 0.074 | 0.094 | 0.089 | 0.566 | 0.521 | 0.519 | 0.490 |
| Rhode Island | 0.407 | 0.400 | 0.403 | 0.421 | 0.419 | 0.419 | 0.416 | 0.415 |
Note. Data from Census Bureau School Finance data, New Hampshire Department of Education and New Hampshire Department of Revenue Administration.
| 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|
| Single Family Permits / Single Family Stock | 0.0121643 | 0.0134561 | 0.0156913 | 0.017154 | 0.0203058 | 0.0197533 | 0.0230021 |
| Sales Price of Existing Homes (Millionsof 1999 $) | 120828.4 | 124816 | 127587 | 134434.7 | 143720.6 | 154937.1 | 172254.7 |
Note. The figures display municipality means for the sample of municipalities with at least 1200 residents in 2000 and which form a balanced panel over the period displayed. Building permit data from U.S. Census Bureau. Mean sales data in panel A are obtained from the New Hampshire Housing Finance Authority.
| 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|
| New Hampshire | 0.0121643 | 0.0134561 | 0.0156913 | 0.017154 | 0.0203058 | 0.0197533 | 0.0230021 |
| Southern Maine | 0.0136579 | 0.0127247 | 0.0165395 | 0.0178282 | 0.017985 | 0.0185409 | 0.020905 |
| Western Massachusetts | 0.01212 | 0.0116911 | 0.0129018 | 0.0125396 | 0.0123191 | 0.0125152 | 0.014438 |
| Southeastern Maine | 0.0132639 | 0.0114372 | 0.0132407 | 0.0152728 | 0.0143668 | 0.0166407 | 0.0188458 |
| Southeastern Maine / Central New England | 0.0122047 | 0.0109948 | 0.0129966 | 0.0140317 | 0.0138982 | 0.0148465 | 0.0172466 |
| Conneticut & Maine & Maine & Rhode Island | 0.0123965 | 0.0120841 | 0.0137591 | 0.0140466 | 0.0134036 | 0.0130581 | 0.0145215 |
Note. The figures display municipality means for the sample of municipalities with at least 1200 residents in 2000 and which form a balanced panel over the period displayed. Building permit data from U.S. Census Bureau. Mean sales data in panel A are obtained from the New Hampshire Housing Finance Authority.
| Distance from Boston | Houses / Sq. Metere * 1000000 (approx.) | Percent of Land Developed |
|---|---|---|
| 30 | 120 | 0.25 |
| 40 | 95 | 0.2 |
| 50 | 75 | 0.15 |
| 60 | 55 | 0.1 |
| 70 | 40 | 0.075 |
| 80 | 30 | 0.05 |
| 90 | 25 | 0.04 |
| 100 | 20 | 0.03 |
| 110 | 20 | 0.02 |
| 120 | 20 | 0.01 |
| 130 | 20 | 0.005 |
| 140 | 20 | 0.005 |
| 150 | 20 | 0.005 |
Note. The top panel displays the predicted total housing units (from the 2000 census) per square meter of land (left axis) and predicted percent of land in use (right axis). The bottom panel displays the predicted probability of having enacted a growth management ordinance as of 1999. The predicted values are produced by a cross-sectional OLS regression, with the muncipality as the unit of observation, of the given variable on a quartic in distance from Boston (in all three regression, the distance variables are jointly significant at the 1% level). The regressions are intended as a descriptive exercise only. The graphs end at the 95th percentile of distance from Boston (154 miles). See the Data Appendix for a discussion of the variables.
Figure 5: Spatial Distribution of Land Availability and Growth Management
Bottom Panel: Probability of Having Enacted a Growth Management Ordinance by 1999
Bottom Panel: Probability of Having Enacted a Growth Management Ordinance by 1999
| Probability | |
|---|---|
| 30 | 0.25 |
| 40 | 0.275 |
| 50 | 0.275 |
| 60 | 0.25 |
| 70 | 0.2 |
| 80 | 0.125 |
| 90 | 0.05 |
| 100 | 0 |
| 110 | -0.05 |
| 120 | -0.1 |
| 130 | -0.1 |
| 140 | -0.05 |
| 150 | 0 |
Note. The top panel displays the predicted total housing units (from the 2000 census) per square meter of land (left axis) and predicted percent of land in use (right axis). The bottom panel displays the predicted probability of having enacted a growth management ordinance as of 1999. The predicted values are produced by a cross-sectional OLS regression, with the muncipality as the unit of observation, of the given variable on a quartic in distance from Boston (in all three regression, the distance variables are jointly significant at the 1% level). The regressions are intended as a descriptive exercise only. The graphs end at the 95th percentile of distance from Boston (154 miles). See the Data Appendix for a discussion of the variables.
Figure 6: Spatial Distribution of Zoning in 2008
Top Panel: Zoning Index
Top Panel: Zoning Index
| Distance from Boston | Predicted Value (approx.) |
|---|---|
| 30 | 4 |
| 40 | 3.8 |
| 50 | 3.6 |
| 60 | 3.4 |
| 70 | 3.2 |
| 80 | 3 |
| 90 | 2.5 |
| 100 | 2 |
| 110 | 1.8 |
| 120 | 1.6 |
| 130 | 1.4 |
| 140 | 1.2 |
| 150 | 1 |
Note. The first panel displays the predicted value of the zoning index. The bottom panel displays the predicted number of years since a change in the municipal subdivision regulations. The predicted values are produced by a cross-sectional OLS regression of the given variable on a quartic in distance from Boston. The regressions are intended as a descriptive exercise only. The graphs end at the 95th percentils of distance from Boston (154 miles). See the Data Appendix for a discussion of the variables.
Figure 6: Spatial Distribution of Zoning in 2008
Bottom Panel: Subdivision Regulations
Bottom Panel: Subdivision Regulations
| Distance from Boston | Predicted Years Since Change (approx.) |
|---|---|
| 30 | 1 |
| 40 | 2 |
| 50 | 5 |
| 60 | 6 |
| 70 | 6.5 |
| 80 | 6.5 |
| 90 | 6.5 |
| 100 | 6.5 |
| 110 | 6.5 |
| 120 | 7 |
| 130 | 7.5 |
| 140 | 8 |
| 150 | 9 |
Note. The first panel displays the predicted value of the zoning index. The bottom panel displays the predicted number of years since a change in the municipal subdivision regulations. The predicted values are produced by a cross-sectional OLS regression of the given variable on a quartic in distance from Boston. The regressions are intended as a descriptive exercise only. The graphs end at the 95th percentils of distance from Boston (154 miles). See the Data Appendix for a discussion of the variables.
| Distance from Boston | Dark Line | Top 95% confidence interval | Bottom 95% confidence interval |
|---|---|---|---|
| 33 | -7.793586 | 2.463465812 | -18.050637812 |
| 34 | -6.9862613 | 2.615257144 | -16.587779744 |
| 35 | -6.2158347 | 2.762002336 | -15.193671736 |
| 36 | -5.4813651 | 2.903991572 | -13.866721772 |
| 37 | -4.7819224 | 3.041535788 | -12.605380588 |
| 38 | -4.1165872 | 3.17496854 | -11.40814294 |
| 39 | -3.4844514 | 3.304647364 | -10.273550164 |
| 40 | -2.8846175 | 3.430956632 | -9.200191632 |
| 41 | -2.3161989 | 3.554308232 | -8.186706032 |
| 42 | -1.7783202 | 3.675141856 | -7.231782256 |
| 43 | -1.2701168 | 3.793923636 | -6.334157236 |
| 44 | -0.7907348 | 3.911143304 | -5.492612904 |
| 45 | -0.33933159 | 4.027305958 | -4.705969138 |
| 46 | 0.08492474 | 4.142921284 | -3.973071804 |
| 47 | 0.48285511 | 4.258485234 | -3.292775014 |
| 48 | 0.85526952 | 4.374454812 | -2.663915772 |
| 49 | 1.2029671 | 4.491215588 | -2.085281388 |
| 50 | 1.5267359 | 4.609039348 | -1.555567548 |
| 51 | 1.8273532 | 4.728038736 | -1.073332336 |
| 52 | 2.1055853 | 4.848120788 | -0.636950188 |
| 53 | 2.3621876 | 4.968946048 | -0.244570848 |
| 54 | 2.5979045 | 5.089904752 | 0.105904248 |
| 55 | 2.8134696 | 5.210115852 | 0.416823348 |
| 56 | 3.0096055 | 5.328453864 | 0.690757136 |
| 57 | 3.1870238 | 5.443604924 | 0.930442676 |
| 58 | 3.3464253 | 5.5541399 | 1.1387107 |
| 59 | 3.4884999 | 5.65859916 | 1.31840064 |
| 60 (25th percentile of distance from Boston) | 3.6139264 | 5.755572928 | 1.472279872 |
| 61 | 3.7233728 | 5.843768616 | 1.602976984 |
| 62 | 3.8174961 | 5.922059624 | 1.712932576 |
| 63 | 3.8969426 | 5.989515236 | 1.804369964 |
| 64 | 3.9623473 | 6.04541178 | 1.87928282 |
| 65 | 4.0143346 | 6.089229996 | 1.939439204 |
| 66 | 4.0535179 | 6.120643464 | 1.986392336 |
| 67 | 4.0804995 | 6.139500472 | 2.021498528 |
| 68 | 4.0958709 | 6.145804128 | 2.045937672 |
| 69 | 4.1002128 | 6.139691584 | 2.060734016 |
| 70 | 4.0940948 | 6.121413352 | 2.066776248 |
| 71 | 4.0780757 | 6.091315376 | 2.064836024 |
| 72 | 4.0527031 | 6.049821972 | 2.055584228 |
| 73 | 4.018514 | 5.99742212 | 2.03960588 |
| 74 | 3.9760344 | 5.9346569316 | 2.0174118684 |
| 75 | 3.9257793 | 5.8621085172 | 1.9894500828 |
| 76 | 3.8682528 | 5.780391168 | 1.956114432 |
| 77 | 3.8039481 | 5.6901435944 | 1.9177526056 |
| 78 | 3.7333474 | 5.59202226 | 1.87467254 |
| 79 | 3.656922 | 5.4866958172 | 1.8271481828 |
| 80 (50th percentile of distance from Boston) | 3.5751324 | 5.3748402092 | 1.7754245908 |
| 81 | 3.488428 | 5.2571341952 | 1.7197218048 |
| 82 | 3.3972474 | 5.13425575 | 1.66023905 |
| 83 | 3.3020183 | 5.0068783968 | 1.5971582032 |
| 84 | 3.2031572 | 4.875667732 | 1.530646668 |
| 85 | 3.1010701 | 4.7412788716 | 1.4608613284 |
| 86 | 2.9961517 | 4.6043527112 | 1.3879506888 |
| 87 | 2.888786 | 4.4655133116 | 1.3120586884 |
| 88 | 2.779346 | 4.3253645412 | 1.2333274588 |
| 89 | 2.6681938 | 4.1844870792 | 1.1519005208 |
| 90 | 2.5556805 | 4.0434350816 | 1.0679259184 |
| 91 | 2.4421464 | 3.9027332648 | 0.9815595352 |
| 92 | 2.3279207 | 3.7628735284 | 0.8929678716 |
| 93 | 2.2133219 | 3.6243124348 | 0.8023313652 |
| 94 | 2.0986573 | 3.4874682004 | 0.7098463996 |
| 95 | 1.9842236 | 3.3527191984 | 0.6157280016 |
| 96 | 1.8703063 | 3.2204017712 | 0.5202108288 |
| 97 | 1.7571801 | 3.0908098856 | 0.4235503144 |
| 98 | 1.6451088 | 2.964194974 | 0.326022626 |
| 99 | 1.5343451 | 2.8407666164 | 0.2279235836 |
| 100 | 1.4251311 | 2.720694726 | 0.129567474 |
| 101 | 1.3176977 | 2.6041113992 | 0.0312840008000002 |
| 102 | 1.2122648 | 2.4911143692 | -0.0665847691999999 |
| 103 | 1.1090418 | 2.3817710732 | -0.1636874732 |
| 104 | 1.0082267 | 2.2761218096 | -0.2596684096 |
| 105 (75th percentile of distance from Boston) | 0.91000683 | 2.1741847212 | -0.3541710612 |
| 106 | 0.81455859 | 2.0759596708 | -0.4468424908 |
| 107 | 0.72204737 | 1.9814321792 | -0.5373374392 |
| 108 | 0.6326277 | 1.8905772992 | -0.6253218992 |
| 109 | 0.54644314 | 1.8033629356 | -0.7104766556 |
| 110 | 0.46362636 | 1.7197528456 | -0.7925001256 |
| 111 | 0.38429908 | 1.6397091856 | -0.8711110256 |
| 112 | 0.30857211 | 1.5631946288 | -0.9460504088 |
| 113 | 0.23654533 | 1.4901742268 | -1.0170835668 |
| 114 | 0.16830769 | 1.4206167424 | -1.0840013624 |
| 115 | 0.10393722 | 1.354495914 | -1.146621474 |
| 116 | 0.04350104 | 1.2917914848 | -1.2047894048 |
| 117 | -0.01294468 | 1.2324899272 | -1.2583792872 |
| 118 | -0.06535469 | 1.1765852372 | -1.3072946172 |
| 119 | -0.11369465 | 1.124079748 | -1.351469048 |
| 120 | -0.15794116 | 1.074984786 | -1.390867106 |
| 121 | -0.19808174 | 1.0293215336 | -1.4254850136 |
| 122 | -0.23411483 | 0.9871220288 | -1.4553516888 |
| 123 | -0.2660498 | 0.9484302724 | -1.4805298724 |
| 124 | -0.29390694 | 0.9133035316 | -1.5011174116 |
| 125 | -0.31771748 | 0.8818138292 | -1.5172487892 |
| 126 | -0.33752356 | 0.854049816 | -1.529096936 |
| 127 | -0.35337825 | 0.8301186128 | -1.5368751128 |
| 128 | -0.36534554 | 0.810147996 | -1.540839076 |
| 129 | -0.37350035 | 0.7942885632 | -1.5412892632 |
| 130 | -0.37792852 | 0.782715958 | -1.538572998 |
| 131 | -0.37872683 | 0.7756326924 | -1.5330863524 |
| 132 | -0.37600297 | 0.773269686 | -1.525275626 |
| 133 | -0.36987556 | 0.775886834 | -1.515637954 |
| 134 | -0.36047414 | 0.78377239 | -1.50472067 |
| 135 | -0.34793918 | 0.7972408784 | -1.4931192384 |
| 136 | -0.33242207 | 0.8166288512 | -1.4814729912 |
| 137 | -0.31408514 | 0.842288596 | -1.470458876 |
| 138 | -0.29310162 | 0.87457965 | -1.46078289 |
| 139 | -0.26965569 | 0.9138582444 | -1.4531696244 |
| 140 | -0.24394244 | 0.9604656432 | -1.4483505232 |
| 141 | -0.21616789 | 1.0147161476 | -1.4470519276 |
| 142 | -0.18654898 | 1.0768861496 | -1.4499841096 |
| 143 | -0.15531358 | 1.1472052236 | -1.4578323836 |
| 144 | -0.12270048 | 1.2258505896 | -1.4712515496 |
| 145 | -0.08895941 | 1.312944996 | -1.490863816 |
| 146 | -0.054351 | 1.408558504 | -1.517260504 |
| 147 | -0.01914682 | 1.5127134064 | -1.5510070464 |
| 148 | 0.01637062 | 1.6253914012 | -1.5926501612 |
| 149 | 0.05190792 | 1.746542246 | -1.642726406 |
| 150 | 0.08716073 | 1.8760925572 | -1.7017710972 |
| 151 | 0.12181378 | 2.0139544248 | -1.7703268648 |
| 152 | 0.15554088 | 2.16003288 | -1.84895112 |
| 153 | 0.18800491 | 2.314232706 | -1.938222886 |
| 154 | 0.21885783 | 2.476462466 | -2.038746806 |
Note. The dark line displays the effect of the fiscal shock on residential investment as a function of distance from Boston. The light lines are 95% confidence intervals. The estimates are produced by a specification which includes the interaction of the fiscal shock variable with a quartic in distance from Boston and the interaction of a post-reform indicator variable with a quartic in distance, but is otherwise identical to specification used to produce the results in column (1) of Table 2. The figure displays the estimates up to the 95th percentile of distance from Boston (154 miles).
Appendix Figure A1
Panel A: Local Share of Education Funding
Panel A: Local Share of Education Funding
| 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|---|
| Connecticut | 0.599 | 0.601 | 0.592 | 0.575 | 0.562 | 0.575 | 0.574 | 0.586 |
| Maine | 0.492 | 0.496 | 0.497 | 0.495 | 0.498 | 0.497 | 0.492 | 0.500 |
| Massachusetts | 0.571 | 0.511 | 0.537 | 0.521 | 0.531 | 0.542 | 0.525 | 0.524 |
| New Hampshire | 0.897 | 0.892 | 0.868 | 0.871 | 0.671 | 0.680 | 0.684 | 0.690 |
| Rhode Island | 0.542 | 0.547 | 0.543 | 0.522 | 0.525 | 0.525 | 0.525 | 0.522 |
| Vermont | 0.667 | 0.661 | 0.648 | 0.180 | 0.180 | 0.215 | 0.221 | 0.235 |
Appendix Figure A1
Panel B: State Share of Education Funding
Panel B: State Share of Education Funding
| 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | |
|---|---|---|---|---|---|---|---|---|
| Connecticut | 0.366 | 0.366 | 0.370 | 0.386 | 0.397 | 0.384 | 0.381 | 0.363 |
| Maine | 0.453 | 0.453 | 0.449 | 0.451 | 0.442 | 0.442 | 0.436 | 0.421 |
| Massachusetts | 0.384 | 0.444 | 0.415 | 0.429 | 0.418 | 0.411 | 0.421 | 0.414 |
| New Hampshire | 0.070 | 0.074 | 0.094 | 0.089 | 0.293 | 0.275 | 0.269 | 0.258 |
| Rhode Island | 0.407 | 0.400 | 0.403 | 0.421 | 0.419 | 0.419 | 0.416 | 0.415 |
| Vermont | 0.285 | 0.292 | 0.299 | 0.760 | 0.751 | 0.725 | 0.715 | 0.693 |