The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
Over the past two decades, state and federal education policies have tried to hold schools more accountable for educating students by tying rewards and sanctions to test scores and other measurable outcomes. A common criticism of these policies is that they may induce schools to “game the system” along with—or instead of—making genuine educational improvements. One such strategic response may be to classify low-performing students into categories that are excluded from grade computation in an effort to artificially inflate scores. This article analyzes school responses to an influential accountability-tied voucher program in Florida. The authors find evidence of increased classification into “excluded” categories in failing schools following the program's inception. Their findings have important implications for New York City's Progress Reports program and New York's implementation of the federal No Child Left Behind Act. While these policies were modeled after the Florida program, they contain important design differences that are likely to discourage this type of gaming, although they may encourage other strategic classifications.