This article explores the total (measured and unmeasured) effect of education on different socio-economic outcomes. The analysis shows that the usual regression models typically underestimate the effects of education. The effects of education are decomposed into three sources of variation:...

In this paper, we empirically explore how the often reported relationship between overeducation and wages can best be understood. Exploiting the newly published Programme for International Assessment of Adult Competencies (PIAAC) data (OECD 2013), we are able to achieve a better estimation of...

Im Oktober wurden die ersten Ergebnisse der PIAAC-Studie veröffentlicht. Nachdem in PISA die Kompetenzen von Schülerinnen und Schülern getestet wurden, wurden nunmehr die Erwachsenen geprüft. Führende an der Entwicklung und Auswertung von PIAAC beteiligte Personen – Beatrice Rammstedt,...

This article explores the total (measured and unmeasured) effect of education on different socio-economic outcomes. The analysis shows that the usual regression models typically underestimate the effects of education. The effects of education are decomposed into three sources of variation:...