Work in Progress
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Overeducation Over the Lifecycle: Disentangling Frictions, Innate Ability, and Job‑Specific Experience
Abstract
This paper studies overeducation persistence using a directed‑search model where workers differ by education, field, innate occupational ability, job‑specific experience, and age, whereas occupations differ by complexity and educational requirements. Calibrated to NLSY79 and O*NET, the model reproduces empirical patterns and decomposes persistence: frictions matter early, while accumulation of non‑transferable job‑specific experience (specialization) dominates long‑run persistence; age and apparent overeducation play a minor role; slower learning amplifies persistence. Policies that speed early learning and reduce frictions are most effective. Education is exogenous since I focus on post-schooling dynamics. Selection is captured via different ability distributions across groups.
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Rethinking Investments in Human Capital in the Age of Artificial Intelligence
Abstract
Coming soon...