Abstract
We study how lead exposure impacts learning in elementary school using a natural experiment where a national automotive racing organization switched from leaded to unleaded fuel. Increased lead exposure harms academic performance, shifting the entire performance distribution, and negatively impacting both younger and older children. For a given total quantity of exposure, the marginal impacts of lead appear greater when spread over more years. The average treated student loses $5,200 of future income in present-value terms. This effect is similar to reducing class size by three students or increasing school spending per pupil by $750.
Footnotes
We thank Ludovica Gazze, Ben Ost, Kevin Schnepel, Barton Willage, and seminar participants at the Symposium on Natural Resources Governance for Young Scholars, Florida State University, Ohio State University, and the University of Tennessee for comments.
- Received February 2022.
- Accepted September 2022.
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