This paper estimates the effect of human capital on countries’ youth unemployment ratio by using country average scores from the Program for International Student Assessment (PISA) and the unemployment ratio of the same birth cohort. The identification strategy is based on variations in skills within country × year and across PISA cohorts. We estimate that a 1 standard deviation increase in reading literacy decreases the unemployment ratio by 1.2 percentage points, which is accounted for by a significant increase in employment. We find some evidence that educational and labor market institutions play a role in the association between skills and unemployment.

中文翻译：

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技能与青年失业：来自综合面板数据的跨国证据

本文通过使用国际学生评估计划（PISA）的国家平均分数和同一出生队列的失业率，估计了人力资本对国家青年失业率的影响。识别策略基于国家×年内和整个PISA队列中技能的差异。我们估计阅读识字率每增加1个标准差，失业率就会下降1.2个百分点，这是由就业率显着提高所致。我们发现一些证据表明，教育和劳动力市场机构在技能与失业之间的关联中发挥了作用。