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Overeducation in the Labour Market
Abstract
Abstract. This paper presents a review of the literature on overeducation. The paper assesses the consistency of overeducation within the context of a number of theoretical frameworks including Human Capital Theory (HCT) and Assignment Theory. The analysis goes on to discuss the various measurement controversies associated with the study of overeducation in order to provide an assessment of the extent to which the impacts of the phenomenon represent an economic reality as opposed to a statistical artefact. After reviewing the literature, it is concluded that the impacts of overeducation are likely to be non-trivial and that the phenomenon may potentially be costly to individuals and firms, as well as the economy more generally. The existence of overeducation also raises some doubts with respect to the validity of some of the central assumptions and predictions of HCT that are unlikely to be fully explained by gaps in the standard wage equation framework.
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Citations
Cited by
Green, F., & Zhu, Y. (2010) · Oxford Economic Papers · doi:10.1093/oep/gpq002 · Cited by 485
Brown, P., & Souto-Otero, M. (2020) · Journal of Education Policy · doi:10.1080/02680939.2018.1549752 · Cited by 144
Race, Self-Selection, and the Job Search Process
Pager, D., & Pedulla, D. S. (2015) · American Journal of Sociology · doi:10.1086/681072 · Cited by 144
Goldthorpe, J. H. (2014) · Rationality and Society · doi:10.1177/1043463113519068 · Cited by 142
Skill gaps in the workplace: measurement, determinants and impacts
McGuinness, S., & Ortiz, L. (2016) · Industrial Relations Journal · doi:10.1111/irj.12136 · Cited by 72
Self-citation
Metadata
- Authors
- McGuinness, S.
- Venue
- Journal of Economic Surveys
- Publisher
- Wiley
- Published
- 2006-07
- Volume
- 20
- Issue
- 3
- Pages
- 387-418
- ISSN
- 0950-0804 (ISSN-L)
- 1467-6419
- OpenAlex
- W2117642800
- Cited by
- 841
- References
- 0
- FWCI
- 37.43
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
