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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 working,...
Persistent link: https://www.econbiz.de/10008990923
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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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Petrodollars, Globalization and U.S. Inflation
Hojjat, Tahereh Alavi - 2010
This paper evaluates the theoretical and empirical evidence that bears on the question of whether globalization and … petrodollars recycling contributed to significant changes in inflation performance in the U.S. We assume that the impact of … globalization can be direct and indirect. Direct impact is through the cheaper imported goods to the U.S. as a component of Consumer …
Persistent link: https://www.econbiz.de/10013141894
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The Limits of Capitalized Power. A 2020 U.S. Update
Bichler, Shimshon; Nitzan, Jonathan - 2020
Until the late 2000s, our work focused primarily on why capitalism should be understood as a mode of power. We argued that capital itself is a form of organized power and researched how capitalists sustain, defend and augment their capitalized power. We called our approach ‘capital as power’...
Persistent link: https://www.econbiz.de/10012390732
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Do Localised Lockdowns Cause Labour Market Externalities?
Guaitoli, Gabriele; Tochev, Todor - 2021
The business restrictions introduced during the COVID-19 pandemic greatly affected the labour market. However, quantifying their costs is not trivial as local policies affect neighbouring areas through spillovers. Exploiting the U.S. local variation in restrictions and commuting, we estimate the...
Persistent link: https://www.econbiz.de/10013218389
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Aggregate Supply in the United States : Recent Developments and Implications for the Conduct of Monetary Policy
Reifschneider, David - 2014
instability or inflation instability -- could cause policymakers to exercise restraint in their response to cyclical weakness …
Persistent link: https://www.econbiz.de/10013061218
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Household Income Volatility and Tax Policy : Helping More and Hurting Less, Testimony Before the U.S. Joint Economic Committee
Batchelder, Lily L. - 2010
This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and...
Persistent link: https://www.econbiz.de/10014195419
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Russia and USA Scenario Planning – Trump and Putin Meeting – Business Boom or Lonely to Prove that They are Right?
ul Haq, Bina - 2020
Summary • Putin and Trump, leaders arguably with hostile powers. Their meeting holds significant importance in history, requiring scenario planning to structure long-term business relationships and a defense playground for both countries.• It will provide assurances; to the operating...
Persistent link: https://www.econbiz.de/10014031910
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Employment guarantee programs : a survey of theories and policy experiences
Kaboub, Fadhel (contributor) - 2007
This working paper provides a survey of the theoretical underpinnings for the various employment guarantee schemes, and discusses full employment policy experiences in the United States, Sweden, India, Argentina, and France. The theoretical and policy developments are delineated in a historical...
Persistent link: https://www.econbiz.de/10003727004
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China's exchange rate impasse and the weak US dollar
McKinnon, Ronald I.; Schnabl, Gunther - 2008
inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal … reminiscent of the global inflation generated by the weak dollar in the 1970s. -- Inflation ; Exchange Rates ; Macro Policies …
Persistent link: https://www.econbiz.de/10003818402