job satisfaction, measurement, mobility, overeducation, training, wages,

Cross-country differences in graduate overeducation and its persistence **We investigate the factors that contribute to the cross-country variation in graduate overeducation and its persistence by means of multi-level analysis. Our analysis is based on data from representative surveys among graduates in thirteen European countries and Japan and focuses on the jobs six months and five years after graduation. Major factors to explain the cross-country variation in overeducation and its persistence are found to be differences in the structural imbalance between the overall demand and supply of skilled workers, differences in the imbalance between the demanded and supplied fields of study and differences in the business cycle at the time of graduation. Also the quality and orientation (general versus vocational) of the educational program are important, but particularly to explain within-country differences. Finally, labour market institutions such as the strictness of the employment protection legislation are found to be less important.

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