Full Employment as a Possible Objective for EU Policy I. A Perspective From the Point of View of The Monetary Circuit
In two recent contributions Alain Parguez and Jean-Gabriel Bliek argued in favour of assigning a full employment objective to European economic policies and their coordination (Bliek and Parguez (2007) and Parguez (2007b)). Their argument is based on the approach of the monetary circuit, whose treatment of full employment is the object of this article. The approach is presented here as emblematic of out of equilibrium models, i.e. models where the equilibrium conditions of pure competition are not fulfilled. A forthcoming contribution will show how the description of economic reality suggested by the circuit can help interpreting recent macroeconomic developments in the US, Canada, Japan and the EU and will discuss some empirical studies confirming its relevance for policy analysis.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- repec:cup:cbooks:9780521001151 is not listed on IDEAS
- Jean-Paul Fitoussi & Francesco Saraceno, 2004.
"The Brussels-Frankfurt-Washington Consensus. Old and New Tradeoffs in Economics,"
Documents de Travail de l'OFCE
2004-02, Observatoire Francais des Conjonctures Economiques (OFCE).
- Jean-Paul Fitoussi & Francesco Saraceno, 2004. "The Brussels-Frankfurt-Washington Consensus. Old and New Tradeoffs in Economics," Sciences Po publications 2004-02, Sciences Po.
- Lavoie, Marc, 1999. "The Credit-Led Supply of Deposits and the Demand for Money: Kaldor's Reflux Mechanism as Previously Endorsed by Joan Robinson," Cambridge Journal of Economics, Oxford University Press, vol. 23(1), pages 103-13, January.
- Paul Davidson, 2005. "Responses to Lavoie, King, and Dow on what Post Keynesianism is and who is a Post Keynesian," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 27(3), pages 393-408, April.
- Roger Guesnerie, 2001. "Assessing Rational Expectations: Sunspot Multiplicity and Economic Fluctuations," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262072076, June.
- Seccareccia, M. & Sharpe, A., 1991. "Canada's Competitiveness: Beyond the Budget Deficit," Working Papers 9111e, University of Ottawa, Department of Economics.
- Roger Guesnerie, 2005. "Assessing Rational Expectations 2: "Eductive" Stability in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262072580, June.
- Mario Tonveronachi & Alessandro Roncaglia, 1985. "Pre-Keynesian roots of the neoclassical synthesis," Cahiers d'Économie Politique, Programme National Persée, vol. 10(1), pages 51-65.
When requesting a correction, please mention this item's handle: RePEc:voj:journl:v:55:y:2008:i:1:p:89-114. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ivana Horvat)The email address of this maintainer does not seem to be valid anymore. Please ask Ivana Horvat to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.