Wage Subsidy and Labour Market Flexibility in South Africa
使用一般均衡模型分析南非工资补贴的就业效应和财政成本，发现就业影响取决于生产要素替代弹性，若劳动力市场僵化则效果有限。
We use a general equilibrium model to analyse the employment effects and fiscal cost of a wage subsidy in South Africa. We capture the structural characteristics of the labour market with several labour categories and substitution possibilities, linking the economy-wide results to a micro-simulation model with occupational choice probabilities to investigate the poverty and distributional consequences. The employment impact depends greatly on the elasticities of substitution of factors of production, being very minimal if unskilled and skilled labour are complements in production. The impact is improved by supporting policies, but the gains remain modest if the labour market is rigid.