A Mismatch Made in Heaven: A Hedonic Analysis of Overeducation and Undereducation
AbstractIn this paper, a hedonic pairing process is modeled in which some workers may be overeducated or undereducated as an equilibrium outcome of a dynamic labor market. Undereducated workers are those whose abilities and training permit them to move into a job with higher qualifications, whereas overeducated workers are highly qualified workers who select into lower-skill, entry-level jobs that provide the training (or signal) necessary for promotion. The empirical model shows that these pairing types cannot be directly identified in a cross section since all workers are exactly educated during a portion of their career. However, pairing types may be imputed by comparing predicted and observed qualifications of the worker and predicted and observed requirements of the firm. Using a rich cross section and a panel of British working-age males to identify the pairing types, we confirm the predicted career development patterns with regard to on-the-job training, promotion, and wages.
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Bibliographic InfoArticle provided by Southern Economic Association in its journal Southern Economic Journal.
Volume (Year): 73 (2007)
Issue (Month): 4 (April)
Other versions of this item:
- Daniel P. McMillen & Paul T. Seaman & Larry D. Singell, 2003. "A Mismatch Made in Heaven: A Hedonic Analysis of Overeducation and Undereducation," University of Oregon Economics Department Working Papers 2004-1, University of Oregon Economics Department, revised 01 Dec 2003.
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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- Verhaest, Dieter & Omey, Eddy, 2009. "The relation between formal education and skill acquisition in young workers first job," Working Papers 2009/07, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
- Dieter Verhaest & Eddy Omey, 2013.
"The Relationship Between Formal Education And Skill Acquisition In Young Workers' First Jobs,"
University of Manchester, vol. 81(4), pages 638-659, 07.
- D. Verhaest & E. Omey, 2012. "The relationship between formal education and skill acquisition in young workers’ first jobs," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/768, Ghent University, Faculty of Economics and Business Administration.
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