... this is not yet the full impact of the above average teacher. The impact on one student is replicated across all of the other students in the class. Thus, calculation of the impact of a teacher ... skill have risen. If these trends continue, the estimates may understate the lifetime value of skills to individuals. On the other hand, the trends themselves could change in the opposite direction. ... in terms of present values, but 38 These estimates, particularly for the U.S., are sensitive to the assumptions about the form of the growth model. Under the neoclassical model, the low...