Because test scores are not necessarily the best measure of learning or of likely economic success, we examine instead the relationships between SFR-induced spending increases and several long-term outcomes: educational attainment, high school completion, adult wages, adult family income, and the incidence of adult poverty. Our data on these outcomes come from the Panel Study of Income Dynamics (PSID), a survey that has tracked a nationally representative sample of families and their offspring since 1968. In particular, we use information on the roughly 15,000 PSID sample members born between 1955 and 1985, who have been followed into adulthood through 2011.
