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Titel
Quantifying the life-cycle benefits of a prototypical early childhood program / Jorge Luis García (University of Chicago), James J. Heckman (American Bar Foundation, University of Chicago and IZA), Duncan Ermini Leaf (University of Southern California), María José Prados (University of Southern California) ; IZA Institute of Labor Economics
VerfasserGarcía García-Menéndez, Jorge Luis ; Heckman, James J. ; Leaf, Duncan Ermini ; Prados, María José
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, May 2017
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (51 Seiten) : Diagramme
SerieDiscussion paper ; no. 10811
URNurn:nbn:de:hbz:5:2-126170 
Zugriffsbeschränkung
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
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Quantifying the life-cycle benefits of a prototypical early childhood program [0.96 mb]
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Zusammenfassung

This paper quantifies the experimentally evaluated life-cycle benefits of a widely implemented early childhood program targeting disadvantaged families. We join experimental data with non-experimental data using economic models to forecast its life-cycle benefits. Our baseline estimate of the internal rate of return (benefit/cost ratio) is 13.7% (7.3). We conduct extensive sensitivity analyses to account for model estimation error, forecasting error, and judgments made about the empirical magnitudes of non-market benefits. We examine the performance of widely used, ad hoc estimates of long-term benefit/cost ratios based on short-term measures of childhood test scores and find them wanting.