Disequilibrium In The Labor Market In South Africa
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| Author | : Mr.Bankim Chadha |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 1994-09-01 |
| Genre | : Business & Economics |
| ISBN | : 1451853033 |
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
| Author | : Rahul Anand |
| Publisher | : International Monetary Fund |
| Total Pages | : 37 |
| Release | : 2016-07-11 |
| Genre | : Business & Economics |
| ISBN | : 1498358934 |
This paper analyzes the determinants of high unemployment in South Africa by studying labor market dynamics using individual level panel data from the Quarterly Labor Force Survey. While prior work experience and gender are found to be important determinants of the job-finding rate, education attainment and race are important determinants of the job-exit rate. Using stock-flow equations, counterfactual exercises are conducted to quantify the role of these different transition rates on unemployment. The paper also explores the contribution of unemployment towards inequality. Reducing unemployment is found to be important for reducing inequality – estimates suggest that a 10 percentage point reduction in unemployment lowers the Gini coefficient by 3 percent. Achieving a similar reduction solely through transfers would require a 40 percent increase in government transfers.
| Author | : Mr. Romain A Duval |
| Publisher | : International Monetary Fund |
| Total Pages | : 39 |
| Release | : 2021-06-11 |
| Genre | : Business & Economics |
| ISBN | : 1513584472 |
Raising South Africa’s low employment rate to levels seen in emerging market or advanced economy peers could raise GDP per capita by 50 to 60 percent and reduce income inequality dramatically in the long term. By putting further strain on an already fragile labor market, Covid-19 has raised the urgency of action. This paper reviews labor market policy and other reform options to enhance South Africa’s job market performance, drawing from international evidence and new analysis. We find much scope for improving the design of key labor market institutions—including collective bargaining and employment protection legislation—and active labor market policies to improve job seekers’ prospects. These reforms should come hand-in-hand with others, such as in the areas of education or product market regulation, that may work pay. Labor market and other reforms would primarily benefit disadvantaged groups such as youth.
| Author | : Nir Klein |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 2012-04-01 |
| Genre | : Business & Economics |
| ISBN | : 1475588380 |
The paper looks at the dynamics of employment in South Africa and examines the factors that contributed to the job-shedding observed during the recent financial crisis. The paper finds that the rapid growth of the real wage, which outpaced the labor productivity growth in most sectors, played an important role in suppressing employment creation. The paper also finds that while there is a co-integrating link between the real wage and labor productivity, the deviations from equilibrium are persistent and thus contribute to a weak link between real wage growth and labor productivity growth in the short term. This finding is also supported by a cross-country analysis, which shows that in South Africa the link between the real wage and labor productivity is substantially weaker than in other emerging markets, even after controlling for labor market tightness indicators.
| Author | : F. S. Barker |
| Publisher | : |
| Total Pages | : 214 |
| Release | : 1992 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Delfin S. Go |
| Publisher | : |
| Total Pages | : 45 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
In this paper, the authors use a highly disaggregate general equilibrium model to analyze the feasibility of a wage subsidy to unskilled workers in South Africa, isolating and estimating its potential employment effects and fiscal cost. They capture the structural characteristics of the labor market with several labor categories and substitution possibilities, linking the economy-wide results on relative prices, wages, and employment to a micro-simulation model with occupational choice probabilities in order to investigate the poverty and distributional consequences of the policy. The impact of a wage subsidy on employment, poverty, and inequality in South Africa depends greatly on the elasticities of substitution of factors of production, being very minimal if unskilled and skilled labor are complements in production. The desired results are attainable only if there is sufficient flexibility in the labor market. Although the impact in a low case scenario can be improved by supporting policies that relax the skill constraint and increase the production capacity of the economy especially towards labor-intensive sectors, the gains from a wage subsidy are still modest if the labor market remains very rigid.
| Author | : F. S. Barker |
| Publisher | : |
| Total Pages | : 316 |
| Release | : 2007 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : International Monetary Fund. Research Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 280 |
| Release | : 1995-01-01 |
| Genre | : Business & Economics |
| ISBN | : 145197339X |
This paper analyzes long-term exchange rate modeling. The paper reviews the literature that tests for a unit root in real exchange rates and the closely related work on testing for a unit root in the residual from a regression of the nominal exchange rate on relative prices. It argues that the balance of evidence is supportive of the existence of some form of long-term exchange rate relationship. The paper highlights that the form of this relationship, however, does not accord exactly with a traditional representation of the long-term exchange rate.
| Author | : Ben Fine |
| Publisher | : Routledge |
| Total Pages | : 365 |
| Release | : 2002-09-11 |
| Genre | : Business & Economics |
| ISBN | : 1134706545 |
Provides a new perspective on an important area of economic theory Supplements existing texts on the theory of labour markets Labour economics is a popular area and work covers some very topical issues e.g. minimum wage, gender, notion of natural rate of unemployment Well-known and respected author
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 94 |
| Release | : 1995-02-01 |
| Genre | : Business & Economics |
| ISBN | : 1451843208 |
Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201 This compilation of summaries of Working Papers released during July-December 1994 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period.
