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RésuméLes auteurs analysent les écarts dans les taux d'inadéquation entre compétences et emploi selon le pays et la discipline à partir de données sur l'insertion des jeunes diplômés en Europe et au Japon. S'agissant des pays, l'inadéquation ≪horizontale≫ (mauvaise spécialisation) diminue en cas de forte protection de l'emploi, d'assurance chômage généreuse et de système éducatif sélectif; l'inadéquation ≪verticale≫ (surqualification) dépend principalement des déséquilibres du marché du travail; et l'inadéquation ≪complète≫ (cumulative), sensible à toutes ces variables, est liée positivement avec la couverture de la négociation collective. Quant aux écarts entre disciplines, ils dépendent des caractéristiques de l'enseignement et des déséquilibres sur le marché du travail.

AbstractBased on early career data on graduates in Europe and Japan, the authors investigate whether full job mismatch (i.e. field‐of‐study mismatch and over‐education), mere horizontal mismatch and mere vertical mismatch can be explained by differences in institutions and labour market imbalances. Mere horizontal mismatch is lower in countries with stronger employment protection, higher unemployment benefits and selective educational programmes. Cross‐country differences in mere vertical mismatch are largely explained by labour market imbalances. These variables also affect full mismatch, which is positively related to collective bargaining coverage as well. Field‐of‐study differences in mismatches are similarly determined by educational programme characteristics and labour market imbalances.

ResumenCon datos de los inicios profesionales de titulados universitarios europeos y japoneses, se investiga el papel de las instituciones y los desequilibrios del mercado laboral en el desajuste vertical, horizontal y total de las calificaciones. El horizontal resulta menor en países con mucha protección del empleo, mejores subsidios de desempleo y programas educativos selectivos. Las diferencias entre países en cuanto al vertical se explican por los desequilibrios del mercado laboral. Estas variables afectan también al desajuste total, que además correlaciona positivamente con la cobertura de la negociación colectiva. Las diferencias según la carrera estudiada tienen que ver con las características de los currículos y también con los desequilibrios del mercado.

Abstract
We investigate the differential impact of alternative combinations of horizontal and vertical educational mismatches on wages. By using panel data for Belgian graduates, we consider the role of unobserved worker heterogeneity. Random measurement error in both types of mismatches is accounted for by adopting instrumental variable techniques. We consistently find that overeducated individuals without field of study mismatch earn less than adequately educated workers with a similar educational background. However, for individuals who are working outside their field of study, such a wage penalty is not always observed once accounting for unobserved heterogeneity and random measurement error. In some cases, field of study mismatch even seems to be financially beneficial to the worker. These findings contribute to our understanding regarding the extent to which educational mismatches are truly problematic. The results call for policies that focus primarily on combatting vertical mismatches.