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Periodical article | Leiden University catalogue | WorldCat |
Title: | Real Wages, Employment and Macroeconomic Policy in a Structuralist Model for South Africa |
Authors: | Gibson, Bill Van Seventer, Dirk E. |
Year: | 2000 |
Periodical: | Journal of African Economies |
Volume: | 9 |
Issue: | 4 |
Period: | December |
Pages: | 512-546 |
Language: | English |
Geographic term: | South Africa |
Subjects: | wages employment Economics and Trade Labor and Employment Politics and Government |
External link: | https://jae.oxfordjournals.org/content/9/4/512.full.pdf |
Abstract: | It is now commonplace to argue that in South Africa higher wages will lower employment. This paper shows that it is difficult to extricate the relationship between wages, employment and output from macropolicy environment. Dynamic computable general equilibrium (CGE) simulations show that the employment effects of nominal wage increases depends on induced monetary and fiscal policy when there is monetary 'policy dominance'. While wage-led growth is inefficient, increasing the wages of unskilled workers can improve the distribution of income, when the induced changes are neutralized. Bibliogr., notes, sum. |