Chapter

Returns to education in context: individual education and transition outcomes in European labour markets

Markus Gangl

in Transitions from Education to Work in Europe

Published in print November 2003 | ISBN: 9780199252473
Published online January 2005 | e-ISBN: 9780191601958 | DOI: http://dx.doi.org/10.1093/0199252475.003.0006
 Returns to education in context: individual education and transition outcomes in European labour markets

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Describes cross-national differences in individual returns to education at entry into the labour market. With respect to occupational allocation, the analysis finds particularly large returns to education in countries with a strong tradition of vocationally specific training, whereas in the case of the association between education and youth unemployment rates, it is the Southern European labour markets that are deviating considerably from the standard pattern. In terms of explaining cross-national differences in transition patterns from the structure of national educational systems, however, compositional as well as genuine macro effects are found to be more important than differences in returns to education on the micro level. In fact, countries classified as occupational labour market models do well because of relatively favourable skill structures as well as labour market structures receptive of new entrants in general.

Keywords: educational system; labour market entry; labour market structure; occupational allocation; returns to education; school-to-work transitions; youth unemployment

Chapter.  11284 words.  Illustrated.

Subjects: Politics

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