abstract:

This paper examines the impact of higher education on youth unemployment. Following the 2008 financial crisis, youth unemployment returned to the fore as a serious concern among policy makers in Europe. A crucial difference from previous recessions is that this time around supply of higher education opportunities was much higher than in the 1980s, and indeed higher education participation rates grew rapidly in many regions during this period. Drawing on previous work on youth unemployment and the economic impacts of education we identify a variety of channels through which higher education is likely to influence youth unemployment. We examine this issue using a macro-panel of European regions for the period 2002-2012. This decade was characterized by variation in economic activity and higher education rates. Our results suggest that expansion of higher education during this period had a mitigating effect on youth unemployment and not recognizing this external benefit of education risks underestimating the effects of macroeconomic shocks on young people.

摘要：

本文考察了高等教育对青年失业的影响。2008 年金融危机之后，青年失业问题再次成为欧洲政策制定者的严重关切。与以往衰退的一个关键区别是，这次高等教育机会的供应量远高于 1980 年代，而且在此期间，许多地区的高等教育参与率确实迅速增长。借鉴以前关于青年失业和教育的经济影响的工作，我们确定了高等教育可能影响青年失业的各种渠道。我们使用 2002 年至 2012 年期间欧洲地区的宏观面板来研究这个问题。这十年的特点是经济活动和高等教育率的变化。