카드 게임 recent growth in local school subsidies in Korea offers a chance to test 카드 게임 effect ofpopulation aging on public education expenditure. In 카드 게임 existing literature, 카드 게임intergenerational conflict model suggests a negative effect, although a growing number ofstudies are finding 카드 게임oretical and empirical evidence of a positive effect. After controllingfor 카드 게임 district fixed effect, 카드 게임 analysis of 카드 게임 Korean data shows that 카드 게임 elderly populationshare has a significant positive effect on 카드 게임 local school subsidy per pupil. This result isrobust after instrumenting 카드 게임 real proportion of 카드 게임 elderly population by 카드 게임 predictedproportion, assuming no population mobility, to handle 카드 게임 possible bias caused by Tieboutsorting.