Prior research substantially overstates the cost of retention under test-based promotion policies to both taxpayers and students who delay labor market entry because it omits two important factors. First, there is a delay between the intervention and the taxpayer's expenditure. Second, on average, the treatment leads to less than a full year of…

Prior research has established the potential for achievement gains from attending smaller classes. However, large statewide class-size reduction (CSR) policies have not been found to consistently realize such gains. A leading explanation for the disappointing performance of CSR policies is that schools are forced to hire additional teachers of…