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Demand and Supply of Skilled Labour and Overeducation in Europe: A Country-level Analysis

  • Giuseppe Croce

    ()

    (Department of Economics and Law, Sapienza University of Rome, Via del Castro Laurenziano, 9, 00161, Rome, Italy.)

  • Emanuela Ghignoni

    ()

    (Department of Economics and Law, Sapienza University of Rome, Via del Castro Laurenziano, 9, 00161, Rome, Italy.)

This paper analyses the incidence of overeducation of university graduates. To this end, we estimate a random effects model for a panel of European countries. Our results do not confirm that the increase of the supply of qualified labour per se can be seen as a relevant factor fuelling overeducation. The relative wage of university graduates is inversely related to overeducation. This finding suggests a role for the demand for qualified labour. Cyclical conditions also matter, as overeducation operates as a short-term adjustment mechanism. This result sheds new light on the possible effects of the recession currently hitting the industrialized countries and on policy measures needed to foster economic recovery.

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Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

Volume (Year): 54 (2012)
Issue (Month): 2 (June)
Pages: 413-439

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Handle: RePEc:pal:compes:v:54:y:2012:i:2:p:413-439
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