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Workers with a college degree earn substantially more than workers with no such degree. Using recent data from 22 OECD (Organization for Economic Cooperation and Development) countries, we estimate this college wage premium at 28 per cent for male full-time working employees, on average, ranging from 18 per cent in Sweden to 50 per cent in the Slovak Republic. This premium is largely explained by the higher skill levels of graduates from higher education combined with their use of these skills at work, as well as the match with job requirements for this skill proficiency and skill use. We find no effect of labour market institutions (e.g. the employment protection legislation or the coverage rate) on cross-country differences in the college wage premium. However, we find that cross-country variation in this premium is related to the relative supply of higher educated workers. Moreover, we find evidence that cross-country differences in the college wage premium are related to the degree to which educational credentials signal skills.

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.

This article provides empirical evidence on the relation between institutional characteristics of labour markets that frame allocation processes, and optimal skill matching at the individual level. We investigate the extent to which skill-based job-worker matches are associated with employment protection legislation (EPL), unemployment benefits, and enforcing and enabling activating labour market policies. Drawing on data of the OECD's Programme for the International Assessment of Adult Competencies (PIAAC), and performing cross-country analyses of 28 industrial countries, we find that EPL can explain variance in the share of optimal skill matching across countries, displaying a positive relation. We also find a negative relation between strict enforcing activating labour market policies and optimal skill matching.

This article provides empirical evidence on the relation between institutional characteristics of labour markets that frame allocation processes, and optimal skill matching at the individual level. We investigate the extent to which skill-based job-worker matches are associated with employment protection legislation (EPL), unemployment benefits, and enforcing and enabling activating labour market policies. Drawing on data of the OECD's Programme for the International Assessment of Adult Competencies (PIAAC), and performing cross-country analyses of 28 industrial countries, we find that EPL can explain variance in the share of optimal skill matching across countries, displaying a positive relation. We also find a negative relation between strict enforcing activating labour market policies and optimal skill matching.

Skills and skill mismatches are claimed to have major consequences for societies and individuals, although convincing evidence mainly exists for wages. Our article examines the association between skill mismatch and job satisfaction as well as other social outcomes, such as political efficacy and social trust. Drawing on data from the OECD Programme for the International Assessment of Adult Competencies (PIAAC), we contribute to sociological research by applying the 'effective skill' concept, a new conceptual approach to measure skill mismatch. We relate this new concept to job satisfaction and other social outcomes, comparing our results with alternative skill mismatch indicators. Our findings provide empirical evidence for two important messages: First, we provide evidence that once we use objective indicators for the skill match – and we make use of all measures that we currently have – there is no association between skill mismatch and job satisfaction. In fact, job satisfaction is driven by skill use, not by skill mismatches or skill proficiency. Second, we show that effective skill and skill mismatch are associated with other social outcomes, having quite considerable effects especially on political efficacy.

Skills and skill mismatches are claimed to have major consequences for societies and individuals, although convincing evidence mainly exists for wages. Our article examines the association between skill mismatch and job satisfaction as well as other social outcomes, such as political efficacy and social trust. Drawing on data from the OECD Programme for the International Assessment of Adult Competencies (PIAAC), we contribute to sociological research by applying the 'effective skill' concept, a new conceptual approach to measure skill mismatch. We relate this new concept to job satisfaction and other social outcomes, comparing our results with alternative skill mismatch indicators. Our findings provide empirical evidence for two important messages: First, we provide evidence that once we use objective indicators for the skill match – and we make use of all measures that we currently have – there is no association between skill mismatch and job satisfaction. In fact, job satisfaction is driven by skill use, not by skill mismatches or skill proficiency. Second, we show that effective skill and skill mismatch are associated with other social outcomes, having quite considerable effects especially on political efficacy.

RésuméLes auteurs s'intéressent aux situations de surqualification et de chômage chez les jeunes diplômés du supérieur dans dix‐sept pays européens en analysant le rôle à cet égard des compétences ≪spécialisées≫ et des compétences ≪universitaires de base≫. Conformément à la thèse de l'éviction, les compétences spécialisées protègent davantage de la surqualification quand la surabondance de main‐d'œuvre s'accroît dans le secteur professionnel lié à la spécialisation du diplômé, et les compétences de base davantage si c'est sur le marché du travail général que cet excédent se renforce. En outre, si les compétences spécialisées protègent du chômage, les compétences de base restent sans effet sur ce risque.

ResumenSe explora la relación entre competencias y riesgo de sobrecalificación y desempleo en titulados universitarios de 17 países europeos. Distinguiendo entre competencias especializadas y académicas, se observa que, como predice la hipótesis de exclusión, las primeras ofrecen mayor protección frente al riesgo de sobrecalificación cuando aumenta el excedente de trabajadores en el ámbito ocupacional de la especialidad del titulado, y las segundas, cuando aumenta ese excedente en el mercado laboral general. Asimismo, las competencias especializadas protegen contra el riesgo de desempleo, pero este no correlaciona con el nivel de competencias académicas según nuestros resultados.