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Full employment : a survey of theory, empirics and policies
Lichtenberger, Andreas; Heimberger, Philipp; Arsenev, … - 2024
The concept of full employment is associated with diverse economic, political and social aspects. We provide a survey of theory, empirics and policy issues related to full employment. We make a novel contribution by tying together multi-dimensional aspects of full employment regarding...
Persistent link: https://www.econbiz.de/10014541848
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The Freedom Budget at 45 : Functional Finance and Full Employment
Forstater, Mathew - 2011
Forty-five years ago, the A. Philip Randolph Institute issued “The Freedom Budget,” in which a program for economic transformation was proposed that included a job guarantee for everyone ready and willing to work, a guaranteed income for those unable to work or those who should not be...
Persistent link: https://www.econbiz.de/10013125733
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u* = √uv
Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022
Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...
Persistent link: https://www.econbiz.de/10013334429
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Rethinking conflict inflation : the hybrid Keynesian-NAIRU character of the conflict Phillips curve
Palley, Thomas I. - 2024 - Revised March 2024
This paper presents a new formulation of conflict inflation labeled the "pass-through" approach, which contrasts with … the existing "pressure balance" approach. The model generates Phillips styled inflation - unemployment dynamics that are a … hybrid of Keynesian and NAIRU dynamics. Conflict inflation arises when economic activity rises above the consistent claims …
Persistent link: https://www.econbiz.de/10014529512
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Keynes's employment function and the gratuitous Phillips curve disaster
Kakarot-Handtke, Egmont - 2013
Phillips curve. The paper demonstrates in a formal and rigorous manner why there is no trade-off between price inflation and …
Persistent link: https://www.econbiz.de/10009787027
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(Full) Employment Policy : Theory and Practice
Papadimitriou, Dimitri B. - 1999
cannot go without creating inflation, this paper asks whether the current employment policies will be able to deal with the … inflation. He finds that a shorter workweek and wage subsidies both have failed to meet one or both of these challenges, but …
Persistent link: https://www.econbiz.de/10014203609
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Government as Employer of Last Resort : Full Employment Without Inflation
Wray, L. Randall - 1998
Since WWII it has been the stated policy of the U.S. government to simultaneously pursue high employment and stable prices. Paradoxically, neither accepted economic theory nor practical experience appears to indicate that high or full employment is even possible with stable prices. In this paper...
Persistent link: https://www.econbiz.de/10014064055
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Inflation and Globalisation : A Modelling Perspective
Engel, Charles M. - 2013
affects the inflation process. Specifically, it investigates how the Phillips curve for consumer price inflation in a country … financial market completeness.Full publication: "http://ssrn.com/abstract=2248714" Globalisation and Inflation Dynamics in Asia …
Persistent link: https://www.econbiz.de/10013083467
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Reorienting fiscal policy : a critical assessment of fiscal fine-tuning
Tcherneva, Pavlina R. - 2013
The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump priming and the new designation of fiscal policy effectiveness found in the New Consensus...
Persistent link: https://www.econbiz.de/10009787031
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Consumption Smoothing and the Structure of Labor and Credit Markets
Bertola, Giuseppe; Koeniger, Winfried - 2004
Smoother labor incomes alleviate credit constraints by reducing workers' desire to borrow, and prospects of upward income mobility have smaller beneficial effects for currently poor workers when borrowing constraints are binding. These simple theoretical insights are consistent with the...
Persistent link: https://www.econbiz.de/10010261817