Overeducation is a problem, then, but it still pays to study.
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With regard to the economics of education, Joop Hartog has conducted research on overeducation and the returns to education, among else. Together with Hessel Oosterbeek, he finds that due to more higher education enrollment, undereducation in the Netherlands decreased throughout the 1960s and 1970s while overeducation increased, though the rate of return to education is positive even in cases of "overeducation", implying that overeducation doesn't necessarily imply private or social inefficiency.Hartog, J., Oosterbeek, H. (1988). Education, allocation and earnings in the Netherlands: Overschooling? Economics of Education Review, 7(2), pp. 185-194.
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Overeducation and mismatch in the labor market. In: Hanushek, E.A.; Machin, S.; Wößmann, L. (eds.). Handbook of the Economics of Education. Amsterdam: Elsevier.
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One early but persistent area of Oosterbeek's research is over-education in the Netherlands. Together with Joop Hartog, he finds that due to more higher education enrollment, undereducation in the Netherlands decreased throughout the 1960s and 1970s while overeducation increased, though the rate of return to education is positive even in cases of "overeducation", implying that overeducation doesn't necessarily imply private or social inefficiency. By contrast, Oosterbeek and Hartog don't observe health, wealth or happiness among Dutch to increase linearly in education: individuals with only a non-vocational secondary school degree are generally healthier, wealthier and happier than TVET or university graduates; moreover, they find IQ to increase health, social background to increase wealth, and being a woman to increase happiness. Oosterbeek's research on overeducation (and mismatch) are reviewed in his and Leuven's synthesis of those economic literatures in the Handbook of the Economics of Education.
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Field of study, earnings, and self-selection. Quarterly Journal of Economics, 131(3), pp. 1057-1111. With regard to overeducation, Leuven's research is reviewed in his and Oosterbeek's synthesis of those economic literatures in the Handbook of the Economics of Education.Leuven, E.; Oosterbeek, H. (2011).
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Furthermore, European studies provide evidence for hiring discrimination based on former unemployment,Baert, S., Verhaest, D. (2014) Unemployment or Overeducation: Which is a Worse Signal to Employers? IZA Discussion Papers, 8312. trade union membership, beauty, HIV, religion, youth delinquency, former underemployment, and former depression. Employment at the army is found to have no causal effect on employment opportunities.
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Retrieved January 2, 2019. In particular, Oosterbeek has conducted extensive research on the returns to schooling, the economics of training, investment contracts, and overeducation and has performed impact evaluations for various interventions in especially education. Oosterbeek ranks among the most-cited Dutch economistsRanking of Dutch economists registered on IDEAS/RePEc. Retrieved January 2, 2019. and the world's leading education economists.Ranking of education economists registered on IDEAS/RePEc. Retrieved January 2, 2019.
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Finally, Leuven has also conducted on wage differentials and overeducation. With regard to wage differentials, in addition to Leuven & Oosterbeek (2008), he observes in work with Oosterbeek and Hans van Ophem, that about one third of the variation in wage differentials between skill groups in developed economies are explained by differences in the net supply of skill groups, with relative demand and supply being a particularly strong determinant of relative wages of low-skilled workersLeuven, E.; Oosterbeek, H.; Van Ophem, H. (2004). "Explaining international differences in male skill wage differentials by differences in demand and supply of skill".
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Muysken's research includes work on endogenous growth and diffusion of technologies; skill mismatch;E.g. "Overeducation, Job Competition and Unemployment":Muysken, Joan, and Bas ter Weel, 1999 job competition;E.g. "Long-term unemployment as a screening device and its consequences for active labour market policies" at CofFEE analysis of unemployment; portfolio investment"International Portfolio Balance – Modeling the External Adjustment Process" :Nils Holinskia, Clemens Kool, and Joan Muysken, 2009 and other topics, including his work on health as a determinant of economic growth."Health as a Principal Determinant of Economic Growth": Zon, Adriaan van, and Joan Muysken, 2003 He has authored a number of articles, papers and books.
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