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Escaping stagnation and restoring shared prosperity : a macroeconomic policy framework for job-rich growth

Listed author(s):
  • Palley, Thomas.

In this succinct piece, the author makes a compelling case for ‘structural Keynesianism’ as a way of responding to the current mix of unsatisfactory growth and uneven progress in reducing unemployment at the global level. Traditional or ‘cyclical’ Keynesianism is, according to the author, good at dealing with short-run shortfalls in aggregate demand, but less able to cope with the structural dimensions of slow growth and slack labour market conditions.

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File URL: http://www.ilo.org/public/libdoc/ilo/2015/115B09_38_engl.pdf
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Paper provided by International Labour Organization in its series ILO Working Papers with number 994874713402676.

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Length: 21 pages
Date of creation: 2015
Publication status: Published in Employment working paper series
Handle: RePEc:ilo:ilowps:994874713402676
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  1. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
  2. Robert Pollin & Heidi Garrett-Peltier & James Heintz & Helen Scharber, 2008. "Green Recovery: A Program to Create Good Jobs & Start Building a Low-Carbon Economy," Published Studies peri_report, Political Economy Research Institute, University of Massachusetts at Amherst.
  3. Stockhammer, Engelbert, 2011. "Wage-led growth: An introduction," Economics Discussion Papers 2011-1, School of Economics, Kingston University London.
  4. Dean Baker & Robert Pollin & Travis McArthur & Matt Sherman, 2009. "The Potential Revenue from Financial Transactions Taxes," CEPR Reports and Issue Briefs 2009-50, Center for Economic and Policy Research (CEPR).
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