TY  - RPRT
        AU  - Bennhoff, Frederik H.
AU  - García, Jorge Luis
AU  - Leaf, Duncan Ermini
        TI  - The Dynastic Benefits of Early Childhood Education: Participant Benefits and Family Spillovers
        PY  - 2023/Aug/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 16370
        UR  - https://www.iza.org/publications/dp16370
        AB  - 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).
        KW  - intergenerational program evaluation
KW  - intergenerational mobility
KW  - early childhood education
KW  - cost-benefit analysis
KW  - life-cycle benefits
KW  - spillover effects
        ER  -