| Summary: | 碩士 === 東吳大學 === 經濟學系 === 99 === This thesis tries to estimate the effect of overeducation(undereducation) on wages by using the data sets “Taiwan Social Change Survey” in 1997 and 2002. It also analyzes graphically about the deadweight loss of overeducation of an individual and the whole society. The wage equations are estimated by the Maximum Likelihood Estimation(MLE) to take into account the sample selectivity bias problem caused by deleting non-workers sample. The existing literature, with the exception of You-Jheng Lin(2009), usually assumes that the full-time workers and part-time workers have the same wage equation. This thesis deals with this problem by estimating two wage equations, one for full-time workers and the other for part-time workers. Then, it also tests whether there is a significant difference between the marginal rate of returns of required and excess(deficit) years of schooling.
The main conclusions are as follows: First, the marginal rate of returns on excess years of schooling(overeducation) is positive, but less than that of required years of schooling(adequacy in education) for both the full-time and part-time workers. And it indicates that overeducation will lead to the deadweight loss for an individual or the whole society. Second, for both the full-time workers and part-time workers, the marginal rate of returns on deficit years of schooling(undereducation) is negative. Third, there is a siginificant difference between the marginal rate of returns of the full-time workers and that of the part-time workers on required years and excess(deficit) years of schooling.
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