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Hedonic and Comparable Wage Indices: The Effect of Adjusting WI Wages

Hedonic and Comparable Wage Indices: The Effect of Adjusting WI Wages. Prepared for the CPRE Conference on School Finance, School Improvement, and Teacher Compensation by Michael Goetz February 2007. Goals of an Hedonic Wage Index.

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Hedonic and Comparable Wage Indices: The Effect of Adjusting WI Wages

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  1. Hedonic and Comparable Wage Indices: The Effect of Adjusting WI Wages Prepared for the CPRE Conference on School Finance, School Improvement, and Teacher Compensation by Michael Goetz February 2007

  2. Goals of an Hedonic Wage Index he·don·icPronunciation: hi-'dä-nikFunction: adjective1: of, relating to, or characterized by pleasure2: of, relating to, or characterized by hedonism How much more or less does it cost to recruit and employ similar school personnel (i.e. exhibiting similar discretionary factors) in different school districts (characterized by different sets of cost factors)… (Chambers, 1981)

  3. Factors * Indicates use in regression

  4. Regression

  5. Locales • Large City (Locale 1): A principal city of a Metropolitan Core Based Statistical Area (CBSA), with the city having a population greater than or equal to 250,000. • Mid-sized City (Locale 2): A principal city of a Metropolitan CBSA, with the city having a population less than 250,000. • Urban Fringe of a Large City (Locale 3): Any incorporated place, Census designated place, or non-place territory within a Metropolitan CBSA of a Large City and defined as urban by the Census Bureau. • Urban Fringe of a Mid-sized City (Locale 4): Any incorporated place, Census designated place, or non-place territory within a Metropolitan CBSA of a Mid-sized City and defined as urban by the Census Bureau. • Large Town (Locale 5): An incorporated place or Census designated place with a population less than 25,000 and greater than or equal to 2,500 and located outside a Metropolitan CBSA or inside a Metropolitan CBSA. • Small Town (Locale 6): An incorporated place or Census designated place with a population less than 25,000 and greater than or equal to 2,500 and located outside a Metropolitan CBSA or inside a Metropolitan CBSA. • Rural, outside CBSA (Locale 7): Any incorporated place, Census, designated place, or non-place territory not within a Metropolitan CBSA or within a Metropolitan CBSA and defined as rural by the Census Bureau. • Rural, inside CBSA (Locale 8): Any incorporated place, Census designated place, or non-place territory within a Metropolitan CBSA and defined as rural by the Census Bureau.

  6. Example Indexes

  7. Comparison Of Indexes

  8. WI Adequacy Study • Evidence-based model • School level, rolled to district, rolled to state • Applied CWI and HWI to salaries • CWI saves $500 million over a $9 billion system • HWI saves $0

  9. WI Districts by Locale

  10. WI Pupil Count by Locale

  11. Comp Wage/Hedonic Comparison by Locale

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