Education and Training in Europe
by Brunello, Giorgio; Garibaldi, Pietro; Wasmer, EtienneFormat: Hardcover
Pub. Date: 2007-07-12
Publisher(s): Oxford University Press
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Summary
While Europe is certainly one of the richest and most educated areas of the world, some of the challenges faced by the old continent are staggering: low economic growth, structural difficulties in the labour market, and increasing international competition. Politicians and policymakers may advocate different means of overcoming the potential economic decline of Europe, but most agree that Europe needs to strengthen human capital, its ultimate competitive advantage in the world economy. This book looks at the accumulation of human capital from two perspectives, first through formal education and then professional training. It provides a useful summary of the key characteristics of education and training in Europe and also asks key questions about the fundamental problems with the current educational and training systems. More importantly, the book goes on to discuss which policies are necessary to make existing education and training systems more efficient, while also making higher skills available to a wider range of people.
Author Biography
Giorgio Brunello holds a MsC in Economics from the LSE and a PhD in Economics from Osaka University, Japan. He has taught at Osaka, Venice, and is currently Professor of Economics in Padova. He is a Research Fellow at IZA (Bonn) and CESifo (Munich). Pietro Garibaldi is Professor of Economics at the University of Turin, and acts as Economic Counselor of the Italian Ministry of Finance. He is also head of Labor Studies for the Fondazione Debenedetti and research fellow at IGIER, CEPR, and IZA. He holds a PhD in Economics from the London School of Economics. He was previously an economist in the IMF Research Department and an associate professor of Economics at Bocconi University. Etienne Wasmer is Professor of Economics at Sciences Po. Paris and at Universite du Quebec a Montreal. He is also a Research Fellow in both the Labour Program and the International Macro Program of CEPR. Etienne received a Ph.D. in Economics from the London School of Economics. He is also associate editor of the French think tank on-line telos, and been a consultant for the European Commission for the Socio-Economic Impact of the Cohesion Fund and the Ministry of Finance in Quebec. He is currently External Member of the Council of Economic Advisors of the French Prime Minister.
Table of Contents
| List of Figures | p. xi |
| List of Tables | p. xiii |
| List of Contributors | p. xvii |
| Preface | p. xix |
| The Macroeconomics of Education | p. 1 |
| Introduction | p. 3 |
| Background | p. 3 |
| Organization and summary of the report-Part 1 | p. 4 |
| Theory and facts | p. 4 |
| The growth vs. cohesion trade-off | p. 4 |
| Improving the trade-off: a study of mismatch, mobility and skill specialization | p. 6 |
| Policy Implications | p. 8 |
| Theory and Facts | p. 9 |
| A brief theoretical perspective on human capital investment with a focus on institutions | p. 9 |
| Introduction | p. 9 |
| Theory | p. 9 |
| Perfect financial markets | p. 9 |
| Financial imperfections | p. 10 |
| Life-cycle and on-the-job investments | p. 13 |
| Labour market frictions | p. 13 |
| Conclusions of the theory part | p. 14 |
| Classification of education | p. 15 |
| The supply of education and its trends | p. 18 |
| Financing and quality | p. 22 |
| Returns to education: unemployment, wages, mobility | p. 25 |
| Wage returns to education | p. 25 |
| Employment and unemployment | p. 28 |
| Geographical mobility | p. 31 |
| Conclusion | p. 35 |
| Education Priorities: Growth vs. Cohesion | |
| Cohesion and the Supply of General Skills in Europe | p. 36 |
| Introduction | p. 36 |
| Schooling and skills by cohort: a long-run perspective | p. 36 |
| Data description | p. 37 |
| Schooling and skills by cohort | p. 39 |
| The skills among those still in school | p. 47 |
| Mean student performance | p. 47 |
| Student/teacher ratios | p. 49 |
| Equality | p. 51 |
| Implications for wage inequality | p. 52 |
| Concluding remarks | p. 54 |
| Higher Education, Innovation and Growth | p. 56 |
| Introduction | p. 56 |
| A survey of the effects of education on growth | p. 57 |
| International migration, the brain drain and 'talents' | p. 59 |
| Immigration to the EU and the USA: size and composition | p. 59 |
| 'Talents': analysing their mobility and contribution | p. 63 |
| Highly educated, productivity and innovation | p. 66 |
| Quality of highly skilled foreign-born in the US | p. 66 |
| Effect on innovation | p. 68 |
| Conclusions | p. 70 |
| The Margins of Improvement of Education Institutions: Skill Mismatch, Skill Portability and Mobility | |
| Internal Mobility, Skills and Education | p. 71 |
| Introduction | p. 71 |
| Internal mobility: EU versus USA | p. 72 |
| Mobility and education in Europe | p. 73 |
| Introduction | p. 73 |
| Data: ECHP and geographical mobility | p. 75 |
| More descriptive statistics on mobility | p. 76 |
| Theory | p. 78 |
| First strategy: comparing job-related mobility and mobility for other reasons | p. 80 |
| Second strategy: estimating the income gain from migration | p. 85 |
| Further comments on mobility and education | p. 88 |
| Determinants of mobility of highly skilled workers across US state data | p. 88 |
| Conclusions | p. 90 |
| Skill Mismatch and Over-qualification in the Enlarged Europe | p. 91 |
| Introduction | p. 91 |
| A brief survey of the literature | p. 92 |
| Skill mismatch and over-qualification in the EU-15 | p. 93 |
| Who is over-qualified or mismatched? | p. 97 |
| Over-qualification, skills mismatch and wages | p. 101 |
| Education mismatch in a transition economy: the case of Poland | p. 104 |
| Returns to over-under-education | p. 106 |
| Nature of education mismatch in Poland | p. 108 |
| Overall conclusions | p. 110 |
| Specificity of Skills and Reallocation | p. 111 |
| Introduction | p. 111 |
| Skill specialization in Europe | p. 111 |
| Measurement of specific skills | p. 114 |
| An application to two accession countries, Poland Estonia | p. 115 |
| Policy implications | p. 118 |
| References | p. 122 |
| Appendices | p. 131 |
| Comments | p. 134 |
| Juan J. Dolado | p. 134 |
| Daniel Gros | p. 140 |
| Workplace Training in Europe | p. 143 |
| Introduction | p. 145 |
| An Overview of the Theoretical Framework | p. 158 |
| The received wisdom | p. 158 |
| Challenges to this orthodoxy | p. 159 |
| An overview of the various approaches and their empirical predictions | p. 161 |
| General training in a perfectly competitive labour market | p. 161 |
| Imperfect capital markets and general training | p. 161 |
| Pure specific training | p. 162 |
| Mixture of training types | p. 162 |
| Oligopsonistic wage setting | p. 163 |
| Asymmetric information | p. 164 |
| Comparisons of predictions of these models | p. 165 |
| A clarification of wage compression | p. 165 |
| Is there under-provision of training? | p. 167 |
| Is there an equity issue? | p. 169 |
| Institutions | p. 170 |
| Trade unions | p. 170 |
| Otherwise competitive labour markets | p. 171 |
| Imperfectly competitive labour markets | p. 171 |
| Union concern over the wage-employment package | p. 173 |
| Labour turnover | p. 173 |
| Unions' use of training to control labour supply | p. 174 |
| Selectivity and other issues | p. 174 |
| Minimum wages | p. 175 |
| Taxes and social security systems | p. 176 |
| Product market competition and deregulation | p. 176 |
| Schooling institutions | p. 177 |
| Summary | p. 177 |
| p. 179 | |
| p. 182 | |
| p. 184 | |
| Unions | p. 184 |
| Product market regulation | p. 185 |
| Stylized Facts about Workplace Training | p. 187 |
| Measurement issues | p. 188 |
| The distribution of training across countries and regions | p. 193 |
| Who pays for training? | p. 197 |
| The distribution of training investments across firms | p. 201 |
| Training differences across employees | p. 205 |
| Summary | p. 214 |
| Description of the Datasets and Supplementary Tables | p. 216 |
| Training and Labour Market Institutions | p. 232 |
| Previous empirical literature | p. 233 |
| Unions and training | p. 233 |
| Minimum wages and training | p. 234 |
| Flexible labour contracts and training | p. 235 |
| Product market competition, employment protection and training | p. 235 |
| Schooling and training | p. 236 |
| Training and pensions | p. 236 |
| The data | p. 237 |
| The empirical set-up | p. 243 |
| The empirical results | p. 244 |
| Summary | p. 251 |
| The Costs and Benefits of Workplace Training | p. 253 |
| Estimating the private returns to training | p. 254 |
| Identification | p. 254 |
| Rates of return | p. 256 |
| Returns to employees | p. 257 |
| The US evidence | p. 258 |
| The European evidence | p. 261 |
| Evidence from the ECHP | p. 263 |
| Are the wage returns to training really high? | p. 265 |
| Summary | p. 267 |
| Returns to employers | p. 267 |
| Training and growth | p. 270 |
| Summary | p. 270 |
| Is There Scope for Policy? | p. 272 |
| Policy responses to market failures in training provision | p. 273 |
| Under-provision: what is the evidence? | p. 273 |
| Training and turnover | p. 276 |
| Credit constraints | p. 278 |
| Is there an equity issue? | p. 278 |
| What do we learn from the empirical evidence? | p. 282 |
| A political economy approach | p. 282 |
| Policies offering financial support to workplace training | p. 283 |
| Labour market policies and training | p. 287 |
| Summary | p. 289 |
| A Simple Political Economy Model of Training Subsidies | p. 290 |
| Training Policies in Europe | p. 293 |
| Regulation: pay-back clauses, time working accounts and apprenticeship contracts | p. 293 |
| Co-financed schemes directed at firms | p. 301 |
| Co-financed schemes directed to individuals | p. 306 |
| References | p. 310 |
| Comments | p. 324 |
| Giuseppe Bertola | p. 324 |
| Jorn-Steffen Pischke | p. 330 |
| Final Remarks | p. 343 |
| Index | p. 349 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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