TY  - RPRT
        AU  - Leuven, Edwin
AU  - Oosterbeek, Hessel
        TI  - Overeducation and Mismatch in the Labor Market
        PY  - 2011/Feb/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5523
        UR  - https://www.iza.org/publications/dp5523
        AB  - This 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.
        KW  - wage equation
KW  - underschooling
KW  - overschooling
KW  - mismatch
        ER  -