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Labor Market Implications of Education MisMatch

Author

Listed:
  • Carla Varona Cervantes
  • Russell Cooper

Abstract

This project studies the impact of education mismatch on labor outcomes. Across our sample of OECD countries, there is evidence of mismatch in educational attainment and labor markets. Labor market outcomes are not independent of education mismatch. Our framework for analysis is a dynamic choice model, focusing on education and training decisions. From the estimation of model parameters, the main factor explaining education mismatch is dispersion across individuals in the perceived value of education. From simulations of lifecycle dynamics and counterfactual experiments, among four key countries, education undermatch in Japan is sustained through labor market mechanisms while in Germany, Italy and the US, education undermatch is largely resolved in that these individuals are eventually employed in skilled jobs. Training plays a key role in these dynamics.

Suggested Citation

  • Carla Varona Cervantes & Russell Cooper, 2020. "Labor Market Implications of Education MisMatch," NBER Working Papers 28169, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28169
    Note: ED EFG
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    File URL: http://www.nber.org/papers/w28169.pdf
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    More about this item

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education

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