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Job Guarantee: a Structuralist Perspective

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  • Antoine Godin

    (Department of Economics and Management, University of Pavia)

Abstract

The structuralist and Stock Flow Consistent (SFC) approaches share some common grounds. Computable General Equilibriums (CGE) models, often used by structuralists, are based on Social Accounting Matrices, which are close SFC’s Transaction Flow Matrices. However, the analysis of structuralists model is more on the meso-level while SFC models are rather at macro-level. Our paper is a step, following Missaglia (2011), towards the creation of a structuralist/SFC model. We introduce several new features in an SFC model: (i) a more disaggregated households sector than usual, (ii) three production sectors and the possibility of constrained output, and (iii) a more elaborated labor market with endogenous labor supply. We use the model to compare two Keynesian policies: the Job Guarantee (JG) and a traditional Keynesian Demand Spur (KDS).

Suggested Citation

  • Antoine Godin, 2012. "Job Guarantee: a Structuralist Perspective," DEM Working Papers Series 016, University of Pavia, Department of Economics and Management.
  • Handle: RePEc:pav:demwpp:016
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    Cited by:

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    2. Sawyer, Malcolm & Veronese Passarella, Marco, 2021. "A Comprehensive Comparison of Fiscal and Monetary Policies: A Comparative Dynamics Approach," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 384-404.

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    More about this item

    Keywords

    Job Guarantee; Structuralist; Stock-Flow Consistent;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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