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How Does the Interplay of Labor Market Institutions and Mismatch Affect Labor Market Outcomes?: An Empirical Analysis of 24 Countries Using PIAAC Data

Kirak Ryu 1

1한국직업능력개발원

Accredited

ABSTRACT

It is commonly known that mismatch between human capital embodied by the employeeand the demand for skills will lead to an under-utilization of human resources,therefore yielding a negative impact on the macro economy. While policyefforts have been made in terms of equilibrium of labor demand and supply, it seldomattracts attention that structural properties and institutional features of labor marketscan play a role in determining labor market outcomes. This paper has tried to fill thisgap by analyzing how the interplay of labor market institutions and mismatch unfoldsin generating labor market outcomes using the PIAAC data. Results show that the likelihood of working on atypical contract, job-related trainingparticipation, and earnings, when used as measures for human resources placementand rewards, have revealed negative impacts of education and skills mismatches. Inaddition, labor market segmentation, in conjunction with collective bargaining, natureof labor market policy, and generosity of unemployment insurance, aggravatesthe negative effects of mismatches on labor market outcomes. These finding attestto the request for balance of policy orientation between the equilibrium and thestructural approach to human capital utilization and placement.

1. 문제제기

2. 이론적 논의

3. 분석 모형 및 자료

4. 분석 결과

5. 결론

REFERENCES(45)

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