%0 Report
        %A Bennhoff, Frederik H.
%A García, Jorge Luis
%A Leaf, Duncan Ermini
        %T The Dynastic Benefits of Early Childhood Education: Participant Benefits and Family Spillovers
        %D 2023
        %8 2023 Aug
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 16370
        %U https://www.iza.org/publications/dp16370
        %X We demonstrate the social efficiency of investing in high-quality early childhood education using newly collected data from the HighScope Perry Preschool Project. The data analyzed are the longest follow-up of any randomized early childhood education program. Annual observations of participant outcomes up to midlife allow us to provide a cost-benefit analysis without relying on forecasts. Adult outcomes on the participants' children and siblings allow us to quantify spillover benefits. The program generates a benefit-cost ratio of 6.0 (p-value = 0.03). Spillover benefits increase this ratio to 7.5 (p-value = 0.00).
        %K intergenerational program evaluation
%K intergenerational mobility
%K early childhood education
%K cost-benefit analysis
%K life-cycle benefits
%K spillover effects