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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).

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Bibliographic Info

Paper provided by University of Pavia, Department of Economics and Management in its series DEM Working Papers Series with number 016.

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Length: 36 pages
Date of creation: Nov 2012
Date of revision:
Handle: RePEc:pav:demwpp:016

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Keywords: Job Guarantee; Structuralist; Stock-Flow Consistent;

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  1. Lance Taylor & Codrina Rada, 2006. "Structural Change, Economic Policy, and Development," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 32, pages 51-71.
  2. Tony Aspromourgos, 2000. "Is an Employer-of-Last-Resort Policy Sustainable? A review article," Review of Political Economy, Taylor & Francis Journals, vol. 12(2), pages 141-155.
  3. Mathew Forstater, 2006. "Green Jobs: Public Service Employment and Environmental Sustainability," Challenge, M.E. Sharpe, Inc., vol. 49(4), pages 58-72, July.
  4. Codrina Rada & Rudiger von Arnim, 2011. "Structural Transformation in China and India: The Role of Macroeconomic Policies," Working Paper Series, Department of Economics, University of Utah 2011_05, University of Utah, Department of Economics.
  5. Jamee Moudud, 2006. "How State Policies Can Raise Economic Growth," Challenge, M.E. Sharpe, Inc., vol. 49(2), pages 33-51, April.
  6. Daniel Kostzer, 2008. ""Argentina--A Case Study on the Plan Jefes y Jefas de Hogar Desocupados, or the Employment Road to Economic Recovery," Economics Working Paper Archive wp_534, Levy Economics Institute.
  7. Marco Missaglia, 2007. "Demand Policies For Long-Run Growth: Being Keynesian Both In The Short And In The Long Run?," Metroeconomica, Wiley Blackwell, vol. 58(1), pages 74-94, 02.
  8. Giuseppe Mastromatteo, 2011. "H.P. Minsky And Policies To Countervail Crises," DISCE - Quaderni dell'Istituto di Economia e Finanza ief0102, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
  9. Jon Wisman, 2010. "The Moral Imperative and Social Rationality of Government-Guaranteed Employment and Reskilling," Review of Social Economy, Taylor & Francis Journals, vol. 68(1), pages 35-67.
  10. Marc Lavoie & Gabriel Rodriguez & Mario Seccareccia, 2004. "Similitudes and Discrepancies in Post-Keynesian and Marxist Theories of Investment: A Theoretical and Empirical Investigation," International Review of Applied Economics, Taylor & Francis Journals, vol. 18(2), pages 127-149.
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