The demand for labour in South Africa : a theoretical and empirical approach
| Autor: | Havemann, Roy Charles |
|---|---|
| Rok vydání: | 2004 |
| Předmět: | |
| Druh dokumentu: | Diplomová práce |
| Popis: | Thesis (MComm)--Stellenbosch University, 2004. ENGLISH ABSTRACT: Nearly five million South Africans were unemployed in 2002 and creating employment opportunities is a difficult challenge. Before this issue can be tackled, however, it is critical to understand the problem. This thesis opts to contribute to this understanding by considering aspects around the demand for labour. The analysis considers a selection of the theoretical literature on the demand for labour, estimates key labour market parameters and then undertakes a number of simulations using a structural model. There are many conflicting paradigms that can be used to analyse the issue: microeconomic versus macroeconomic; neoclassical versus structuralist; theoretical versus empirical and so forth. Some of these paradigms are considered as part of the attempt to build an empirical framework that can be used to analyse the issue. The empirical results of the thesis suggest that: • Higher real wages lead to lowering of the quantity demanded of labour. The thesis estimates an economy-wide wage elasticity of employment of approximately -0,67; • Higher output stimulates the demand for labour. The single equation estimate of the employment elasticity of output is between 0,66 and 0,75, whilst the economy-wide estimate is approximately 1,1. The latter takes into account feedback effects from other macroeconomic variables, such as productivity and wages; • There is little evidence to show that the efficiency wage hypothesis holds - higher productivity leads to higher wages, but the converse is not true; • Union power increases real wages, indirectly leading to a fall in the demand for labour. This suggests that the labour market has insiders and outsiders; and • The relative price of labour is also important, with a fall in the cost of capital leading to a decrease in the demand for labour. Simulations suggest that job creation can be achieved through policies that encourage wage moderation and increase economic growth. There is also a potential role, albeit limited, for fiscal incentives such as a mooted earned income tax credit. AFRIKAANSE OPSOMMING: Byna vyf miljoen Suid-Afrikaners was werkloos in 2002 en werkskepping is 'n moeilike uitdaging. Voordat hierdie kwessie aangepak kan word, is dit egter noodsaaklik om die probleem te verstaan. Hierdie tesis dra by tot hierdie begrip deur te fokus op punte rondom die vraag na arbeid. Die ontleding kyk na 'n verskeidenheid van teoretiese literatuur oor die vraag na arbeid en identifiseer sleutel-parameters vir die arbeidsmark. Daar is soveel teenstrydige paradigmas wat gebruik kan word om die kwessie te ontleed: Mikro-ekonomies teenoor makro-ekonomies; neoklassiek teenoor strukturalisties; teoreties teenoor empiries, ensovoorts. Sommige van hierdie paradigmas word bespreek as deel van die poging om 'n empiriese raamwerk te bou wat gebruik kan word om die kwessie te ontleed. Die empiriese resultate van die tesis toon: • Hoër reële lone lei tot 'n verlaging van die hoeveelheid arbeid aangevra. Die tesis beraam die ekonomiewye loonelastisiteit van indiensneming op sowat - 0,67; • Hoër uitset stimuleer die vraag na arbeid. Die enkelvergelyking-raming van die uitset-elastisiteit van indiensneming is tussen 0,66 en 0,75, terwyl die ekonomiewye raming sowat 1,1 is. Laasgenoemde neem terugvoerinvloede van ander makro-ekonomiese veranderlikes in ag, bv. produktiwiteit en lone. • Daar is min bewyse dat die doeltreffende loon-hipotese water hou: Hoër produktiwiteit lei tot hoër lone, maar die teendeel is onwaar; • Vakbonde se mag verhoog reële lone, wat indirek lei tot 'n daling van die vraag na arbeid. Dit dui daarop dat die arbeidsmark 'n binnekring en buitestaanders het; en • Die relatiewe prys van arbeid is ook belangrik: 'n Afname van die koste van kapitaal veroorsaak 'n daling van die vraag na arbeid. Simulasies toon dat werkskepping bevorder kan word deur beleid wat loonmatiging en ekonomiese groei bevorder. Daar is ook 'n rol, alhoewel beperk, vir fiskale insentiewe, b.v. 'n loonsubsidie. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|