We study life-cycle educational transitions in an education system characterized by early tracking and institutionalized branches of academic and vocational training but with the possibility to revise earlier decisions at later stages. Our model covers all major transitions ranging from...

Thurow's job-competition model implies that overeducation is contingent upon the differing skill endowments of employees. As yet, only rudimentary evidence has been furnished to confirm this relationship. In the present paper, we test the theory in a more sophisticated manner, by means of a more...