Overeducation and Mismatch in the Labor Market
AbstractThis paper surveys the economics literature on overeducation. The original motivation to study this topic were reports that the strong increase in the number of college graduates in the early 1970s in the US led to a decrease in the returns to college education. We argue that Duncan and Hoffman’s augmented wage equation – the workhorse model in the overeducation literature – in which wages are regressed on years of overschooling, years of required schooling and years of underschooling is at best loosely related to this original motivation. We discuss measurement and estimation issues and give an overview of the main empirical findings in this literature. Finally we given an appraisal of the economic lessons learned.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5523.
Length: 56 pages
Date of creation: Feb 2011
Date of revision:
Publication status: published in: Handbook of the Economics of EducationErik Hanushek, F. Welch (eds.): Handbook of the Economics of Education, Elsevier Science, Vol. 4, 283 - 326
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Find related papers by JEL classification:
- I2 - Health, Education, and Welfare - - Education
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-05 (All new papers)
- NEP-EDU-2011-03-05 (Education)
- NEP-LAB-2011-03-05 (Labour Economics)
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- Ewijk, R. van & Sleegers, P, . "The effect of peer socioeconomic status on student achievement: a meta-analysis," Working Papers 20, Top Institute for Evidence Based Education Research.
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