Using quantile regressions, this paper provides evidence that the relationship between school quality and wages varies across points in the conditional wage distribution and educational attainment levels. Although smaller classes generally have a positive return for individuals at high...

After forty years of school consolidation, the preponderance of the evidence, including the results presented in this paper, suggest that the race to reap returns to scale and specialization in education may have come at a high price. This paper uses newly available STAR test score data from...