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The Elasticity of Substitution between Skilled and Unskilled Labor: A Meta-Analysis
Laslopová, Ľubica ; Havránková, Zuzana (advisor) ; Komárek, Luboš (referee)
In this thesis we use meta-analytic methods to quantitatively summarize empirical evidence on elasticity of substitution between skilled and unskilled labor. Review is based on sample of 684 estimates from 78 studies. After a brief overview of theoretical framework, estimation strategies and distri- bution of the existing estimates, we test for publication bias. According to regression-based tests for publication bias, we do not reject null hypothesis of no publication bias in the existing literature. To explain heterogeneity between the estimates, we use Bayesian Model Averaging. We find that both real factors and research design influence resulting value of estimated elasticity. Our synthetic estimates of the elasticity imply that skilled and unskilled workers are imperfect substitutes in the long run, substitutability in the short-run is mostly limited. JEL Classification: J82, J23, J24, J31 Keywords: elasticity of substitution between skilled and un- skilled labor, meta-analysis, publication bias Author's e-mail llaslopova@gmail.com Supervisor's e-mail zuzana.havrankova@fsv.cuni.cz 1
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The Elasticity of Substitution between Skilled and Unskilled Labor: A Meta-Analysis
Laslopová, Ľubica ; Havránková, Zuzana (advisor) ; Komárek, Luboš (referee)
In this thesis we use meta-analytic methods to quantitatively summarize empirical evidence on elasticity of substitution between skilled and unskilled labor. Review is based on sample of 684 estimates from 78 studies. After a brief overview of theoretical framework, estimation strategies and distri- bution of the existing estimates, we test for publication bias. According to regression-based tests for publication bias, we do not reject null hypothesis of no publication bias in the existing literature. To explain heterogeneity between the estimates, we use Bayesian Model Averaging. We find that both real factors and research design influence resulting value of estimated elasticity. Our synthetic estimates of the elasticity imply that skilled and unskilled workers are imperfect substitutes in the long run, substitutability in the short-run is mostly limited. JEL Classification: J82, J23, J24, J31 Keywords: elasticity of substitution between skilled and un- skilled labor, meta-analysis, publication bias Author's e-mail llaslopova@gmail.com Supervisor's e-mail zuzana.havrankova@fsv.cuni.cz 1
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Overeducation in the Czech Labour Market
Laslopová, Ľubica ; Pertold-Gebicka, Barbara (advisor) ; Matoušek, Jindřich (referee)
In one way or another, labour market theories link additional years of edu- cation to better jobs and higher earnings. The empirical research, however, identified systematic distortions of this rule. Some workers are considered to be overeducated, as their education exceeds the level required for their job. This thesis deals with overeducation in the Czech labour market, as there are still few studies considering this topic. First we estimate incidence of overedu- cation using objective measures of overeducation. Then we perform an analysis of its determinants and possible consequences, namely pay penalty and lower job satisfaction. The results are to a large extent dependent on the measure- ment method. Despite these differences, we found that certain factors, such as general health, place of residence, ethnicity or managerial positions may influ- ence the probability of mismatch. We provide some evidence that the returns to "surplus" education might be systematically lower than returns to required education. Also, overeducation can be linked to a lower job satisfaction. JEL Classification J82, J31, J28, J24 Keywords incidence of overeducation, determinants of overeducation, consequences of overeducation, Czech labour market, education in the Czech Republic Author's email llaslopova@gmail.com...
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