THE INCOME PENALTY OF VERTICAL AND HORIZONTAL EDUCATION-JOB MISMATCHES IN THE KOREAN YOUTH LABOR MARKET: A QUANTILE REGRESSION APPROACH (2016)
Author: Hong-Kyun
Kim, Seung C. Ahn and Jihye Kim
Abstract
In this paper we
estimate the income effects of over-education and horizontal educationjob
mismatch jointly by quantile regressions using a data set of Korean college
graduates. We find that over-education and horizontal mismatch are positively
correlated. Thus, the income loss by over-education (horizontal mismatch) is
overestimated if it is estimated ignoring horizontal mismatch (over-education).
This overestimation problem is particularly prevalent for workers at low and
near-median deciles of the conditional income distribution. We also find that
the income penalty on over-education is prevalent for most all quantiles,
whereas the income penalty on horizontal mismatch is significant for lower
quantiles.
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