The Costs and Benefits of a Job Guarantee: Estimates from a Multicountry Econometric Model

Scott T. Fullwiler

Chapter 4 in The Job Guarantee, 2013, pp 73-94 from Palgrave Macmillan

Abstract: Abstract The Job Guarantee (Mosler 1997–1998; Mitchell and Muysken 2008; Wray 1998; hereafter JG) is a policy proposal designed as an alternative to the neoclassical natural rate of unemployment or Nonaccelerating Inflation Rate of Unemployment (NAIRU). Whereas that approach presumes that some positive percentage of the total labor force must be sr to avoid accelerating inflation, the JG literature argues instead that a buffer stock of the employed can enaustained as involuntarily unemployed in ordeble true full employment without compromising price stability, with the additional benefit of mitigating the economic and social costs of involuntary unemployment.

Keywords: Monetary Policy; Minimum Wage; Full Employment; Dynamic Stochastic General Equilibrium; Startup Phase (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-29799-0_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137297990

DOI: 10.1057/9781137297990_5

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().