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Mismatch in the 21st Century:An Overview

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Abstract

The quality of matches between workers, firms, and jobs is critical for labor market efficiency and affects firm productivity and worker welfare. This paper surveys research on the determinants, measurement, and effects of occupational mismatch. After recalling theoretical frameworks based on search costs and imperfect information, we review the different forms of mismatch and the empirical measures used to analyze it depending on the available data. We then analyze factors exacerbating mismatches, such as geographical constraints, hiring and firing costs, financial barriers, and structural shocks like technological change and demographic decline. Next, we assess the impact of mismatch on productivity, wages, and career development and review the policies to reduce it, such as improving information flows, lowering search costs, and fostering skill acquisition. We conclude by identifying remaining gaps in our understanding of occupational mismatch and thus priorities for future research.

Suggested Citation

  • Luca Coraggio & Monica Langella & Armando Miano & Marco Pagano & Marco Stenborg Petterson & Vincenzo Petone & Annalisa Scognamiglio, 2024. "Mismatch in the 21st Century:An Overview," CSEF Working Papers 745, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    • Handle: RePEc:sef:csefwp:745
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    Keywords

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    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • J68 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Public Policy
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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