Would Cheaper Capital Replace Labour?
AbstractLeft-leaning members of the ruling alliance should be careful what they wish for. By estimating elasticities of substitution and factor demand between capital and four labour types, we find microeconomic evidence that cheaper capital would reduce demand for labour. While capital and all occupations are substitutes, many but not all occupations are themselves complements. These results allow for endogenous changes in output and apply to the vast majority of firms in our sample. Copyright (c) 2010 The Author. Journal compilation (c) 2010 Economic Society of South Africa.
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Bibliographic InfoArticle provided by Economic Society of South Africa in its journal South African Journal of Economics.
Volume (Year): 78 (2010)
Issue (Month): 2 (06)
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- Andrew Kerr & Martin Wittenberg & Jairo Arrow, 2013. "Job Creation and Destruction in South Africa," SALDRU Working Papers 92, Southern Africa Labour and Development Research Unit, University of Cape Town.
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