Job Guarantee: a Structuralist Perspective

Antoine Godin

Revue de la Régulation - Capitalisme, institutions, pouvoirs, 2014, vol. 16

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).

Keywords: emploi garanti; structuralisme; stock-flux cohérent; Job Guarantee; structuralist; stock-flow consistent; empleo garantizado; estructuralismo; stock-flujo coherente (search for similar items in EconPapers)
JEL-codes: E12 E24 L16 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: Job Guarantee: a Structuralist Perspective (2012)
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