Rob Grunewald, Economist, Community Development Department, Federal Reserve Bank of Minneapolis
Federal Reserve Bank of Philadelphia
Cascade: No. 93, Fall 2016
The Minnesota Legislature authorized an innovative social impact financing pilot in 2011 to issue state bonds for pay for performance based contracts to expand effective social services. A report released today by Nonprofits Assistance Fund examines why, while pay for success initiatives have moved forward in other states, Minnesota has been unable to issue the appropriation bonds authorized in the Pay For Performance Act of 2011.
We are delighted to announce that our findings on the benefits of full-day preschool in the Child-Parent Centers is in the current issue of the Journal of the American Medical Association (JAMA). Within CPCs that offered full and part day preschool in Chicago, students in full-day were more likely to be ready for Kindergarten. The results are reaching local and national news sources as well. Read more here.
The City of Chicago’s approval of Mayor Rahm Emanuel’s plan to increase enrollment in the ChildParent Centers (CPC) by 2,600 preschool students is a watershed for social impact bond (SIB) financing. Not only is the SIB the largest in private investment ($16.9 million over 4 years), but it is the first for a proven model of school reform.
Chair Janet L. Yellen speaks at the Conference on Economic Opportunity and Inequality, Federal Reserve Bank of Boston, Boston, Massachusetts. Read her speech here.
Read Art Rolnick's article on the Twin Cities Daily Planet website.
Studies have found that well-focused investments in early childhood development yield high public as well as private returns, yet millions of children in this country do not have access to quality early learning opportunities.
On June 5, 2014, Libby Doggett, Early Learning Deputy Assistant Secretary at the U.S. Department of Education; Art Rolnick, Senior Fellow and Co-Director of the Human Capital Research Collaborative, Humphrey School of Affairs; and Aaron Sojourner, Assistant Professor, Carlson School of Management discussed the results of local and national research.
An article in the Carlson School Magazine featuring Aaron Sojourner, Spring 2014.
Article in MinnPost featuring Aaron Sojourner.
November 12, 2013
Read the article in Chicago Magazine.