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2013 Clark Medal -- Raj Chetty says Teacher quality really, really matters!

Posted on 14 April 2013

Raj Chetty has been named the 2013 winner of the John Bates Clark Medal, which the American Economic Association awards annually to an “American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge.”

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In one of his paper co-authored with Friedman and Columbia’s Jonah Rockoff, he attempted to determine whether students of teachers who performed better on value-added metrics ended up having better life outcomes. The article conludes that they do : “We estimate that replacing a teacher whose true VA is in the bottom 5 percent with an average teacher would increase the present value of students’ lifetime income by $267,000 per classroom taught”.

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