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Are teachers' impacts on students' test scores (value-added) a good measure of their quality? This question has sparked debate partly because of a lack of evidence on whether high value-added (VA) teachers improve students' long-term outcomes. Using school district and tax records for more than one million children, we find that students assigned to high-VA teachers are more likely to attend college, earn higher salaries, and are less likely to have children as teenagers. Replacing a teacher whose VA is in the bottom 5 percent with an average teacher would increase the present value of students' lifetime income by approximately 250, 000 per classroom. (JEL H75, I21, J24, J45)
Chetty et al. (Thu,) studied this question.