Equalizing revenues across public school districts: Significant positive on students' intergenerational mobility

This paper estimates the causal effect of equalizing revenues across public school districts on students' intergenerational mobility, using variation from 13 school finance reforms passed in 20 US states between 1986 and 2004. 

The author finds that equalization has a large effect on mobility, especially for low-income students.  This effect may act through a reduction in the gap in inputs (such as the number of teachers) and in college attendance between low-income and high-income districts.