Quantifying the Life-Cycle Benefits of an Influential Early-Childhood Program

This paper quantifies and aggregates the multiple lifetime benefits of an influential high-quality early childhood program with outcomes measured through midlife. Guided by economic theory, we supplement experimental data with non-experimental data to forecast the life-cycle benefits and costs of th...

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Publié dans:The journal of political economy. - 1969. - 128(2020), 7 vom: 15. Juli, Seite 2502-2541
Auteur principal: Garca, Jorge Luis (Auteur)
Autres auteurs: Heckman, James J, Leaf, Duncan Ermini, Prados, María José
Format: Article en ligne
Langue:English
Publié: 2020
Accès à la collection:The journal of political economy
Sujets:Journal Article C93 Early childhood education I28 J13 cost-benefit analysis life-cycle benefits long-term forecasts program evaluation rates of return
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520 |a This paper quantifies and aggregates the multiple lifetime benefits of an influential high-quality early childhood program with outcomes measured through midlife. Guided by economic theory, we supplement experimental data with non-experimental data to forecast the life-cycle benefits and costs of the program. Our point estimate of the internal rate of return is 13.7% with an associated benefit/cost ratio of 7.3. We account for model estimation and forecasting error and present estimates from extensive sensitivity analyses. This paper is a template for synthesizing experimental and non-experimental data using economic theory to estimate the long-run life-cycle benefits of social programs 
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