Authors: Rajashri Chakrabarti and Max Livingston
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Economic Policy Review
Tough Choices: New Jersey Schools during the Great Recession and Beyond
Volume 27, Number 1
July 2021
July 2021
JEL classification: H4, I2, R1, R51
This study examines the medium-term effects of the Great Recession on school finances in New Jersey using detailed school district panel data and an interrupted time series analysis. The authors find that the recession led to sharp cuts in school funding and expenditure, in spite of the federal stimulus. These cuts deepened as the stimulus abated. An analysis of variations by metropolitan area reveals that the Camden metro area, the highest poverty area reviewed, experienced considerably larger cuts in expenditures when the stimulus receded compared with other areas. The findings are important for understanding how recessions and fiscal policy affect school finances. They show particular relevance for the current pandemic-driven recession as state and local funding shortages threaten education financing despite a federal relief package. Two key implications are that funding cuts can widen inequalities in school spending and that adverse effects may deepen as the relief dissipates.
Author Disclosure Statement(s)
Rajashri Chakrabarti
The author declares that she has no relevant or material financial interests that relate to the research described in this paper.
Max Livingston
The author declares that he has no relevant or material financial interests that relate to the research described in this paper.
The author declares that she has no relevant or material financial interests that relate to the research described in this paper.
Max Livingston
The author declares that he has no relevant or material financial interests that relate to the research described in this paper.
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