Job Guarantee: a Structuralist Perspective
Year: 2014
Type: article
Abstract: This paper aims at formalising and assessing the validity of the critiques of the Job Guarantee (JG) policy proposed by Minsky (1965). In order to do so, we develop a multisectoral Post-Keynesian Stock-Flow Consistent (PK-SFC) model. Our paper is a step, following Missaglia (2011), towards the creation of a structuralist/ SFC model. We introduce several new features in an PK-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 and contrast two Keynesian policies: theJG and a traditional Keynesian Demand Spur (KDS).
Source: Revue de la régulation
Author: Antoine Godin
Institution: University of Limerick
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W1511830243