In Search of More Productive Schools; Picus, 2001.

Source: In Search of More Productive Schools: A Guide To Resource Allocation In Education, Lawrence O. Picus, University of Oregon, 2001. (Via James Fraasch)

It’s a 132-page book.

Effects of spending $500/student on various policies

The following table summarizes Figure 4.4 of the book and combines it with the summary finding of Picus et al., 2005.

Gains are expressed as improved test scores in standard deviations. For example, a gain of 0.22 means that test scores improved by 22% of the standard deviation.
(Source: Figure 4.4 on p. 72.)
Spend $500 on…Get achievement gain of…
Increasing teacher education0.22
Increasing teacher experience0.18
Increasing teacher salaries0.16
Lowering pupil-teacher ratio0.04
Improving school buildingsNone*

*Source: Picus et al., 2005.