Skip to main content
Skip to McMaster Navigation Skip to Site Navigation Skip to main content
McMaster logo
COVID-19 information and updates

Find the most recent updates here, as well as FAQs and information for students, faculty and staff.

Professor Angela Zheng, recently published in the American Economic Journal: Macroeconomics

Jul 08, 2022


Professor Angela Zheng, McMaster University, Department of Economics and James Graham from the University of Sydney - School of Economics recently published an article titled:  Public Education Inequality and Intergenerational Mobility in the American Economic Journal (AEJ): Macroeconomics Vol. 14, No.3 July 2022 (pp. 250-82)


Public school funding depends heavily on local property tax revenue. Consequently, low-income households have limited access to quality education in neighborhoods with high house prices. In a dynamic life-cycle model with neighborhood choice and endogenous local school quality, we show that this property tax funding mechanism reduces intergenerational mobility and accounts for the spatial correlation between house prices and mobility. A housing voucher experiment improves access to schools, with benefits that can last for multiple generations. Additionally, a policy that redistributes property tax revenues equally across schools improves mobility and welfare. However, the benefits can take generations to be realized.

The full document may be downloaded here:


Congratulation Angela & James!