Matches in SemOpenAlex for { <https://semopenalex.org/work/W1498937751> ?p ?o ?g. }
Showing items 1 to 89 of
89
with 100 items per page.
- W1498937751 endingPage "259" @default.
- W1498937751 startingPage "243" @default.
- W1498937751 abstract "Most OECD economies have suffered from persistently high unemployment since the mid-1970s as a result of demand deficiencies promoted by inappropriate fiscal and monetary policy. Governments have failed to understand the opportunities that they have as the issuer of the currency. In this paper, a framework for analysing these opportunities is presented. We compare two buffer-stock means of stabilising the price level: (a) the NAIRU approach, which uses a buffer stock of unemployed; and (b) the Job Guarantee, which is an open ended, fixed wage buffer stock of employed workers. The government offers a fixed wage to anyone willing and able to work, and allows market forces to determine the total quantity of government spending. This option is available to the government as the monopoly issuer of fiat currency. We show that budget deficits are necessary to maintain full employment if the private sector is to pay taxes and has a positive desire to net save. In this regard, the orthodox treatment of the accounting relation termed the government budget constraint as an ex ante financial constraint is in error. We show that government spending is only constrained by what real goods and services are offered in return for it. There is no financing requirement. Debt issuance is seen as part of a reserve maintenance operation by the RBA consistent with their monetary policy cash rate targets. 'The political revival of free-market ideology in the 1980s is, I presume, based on the market's remarkable ability to root out inefficiency. But not all inefficiencies are created equal. In particular, high unemployment represents a waste of resources so colossal that no one truly interested in efficiency can be complacent about it. It is both ironic and tragic that, in searching out ways to improve economic efficiency, we seem to have ignored the biggest inefficiency of them all'. Alan Blinder (1987, p. 33)" @default.
- W1498937751 created "2016-06-24" @default.
- W1498937751 creator A5046476436 @default.
- W1498937751 creator A5050861486 @default.
- W1498937751 date "2002-06-01" @default.
- W1498937751 modified "2023-09-27" @default.
- W1498937751 title "Fiscal Policy and the Job Guarantee" @default.
- W1498937751 cites W1506677362 @default.
- W1498937751 cites W1528971754 @default.
- W1498937751 cites W1529624024 @default.
- W1498937751 cites W1532532166 @default.
- W1498937751 cites W1607291139 @default.
- W1498937751 cites W1965561045 @default.
- W1498937751 cites W2006651840 @default.
- W1498937751 cites W2009053143 @default.
- W1498937751 cites W2019792124 @default.
- W1498937751 cites W2037425424 @default.
- W1498937751 cites W2041503365 @default.
- W1498937751 cites W2056495932 @default.
- W1498937751 cites W2060263578 @default.
- W1498937751 cites W2062409192 @default.
- W1498937751 cites W2149871309 @default.
- W1498937751 cites W2163504111 @default.
- W1498937751 cites W2219482623 @default.
- W1498937751 cites W23019010 @default.
- W1498937751 cites W2314799320 @default.
- W1498937751 cites W2331244676 @default.
- W1498937751 cites W3000497053 @default.
- W1498937751 cites W3124764438 @default.
- W1498937751 cites W3125384343 @default.
- W1498937751 cites W3125780895 @default.
- W1498937751 cites W336984735 @default.
- W1498937751 cites W40048283 @default.
- W1498937751 cites W584174648 @default.
- W1498937751 cites W83609265 @default.
- W1498937751 hasPublicationYear "2002" @default.
- W1498937751 type Work @default.
- W1498937751 sameAs 1498937751 @default.
- W1498937751 citedByCount "28" @default.
- W1498937751 countsByYear W14989377512012 @default.
- W1498937751 countsByYear W14989377512013 @default.
- W1498937751 crossrefType "posted-content" @default.
- W1498937751 hasAuthorship W1498937751A5046476436 @default.
- W1498937751 hasAuthorship W1498937751A5050861486 @default.
- W1498937751 hasConcept C10138342 @default.
- W1498937751 hasConcept C120527767 @default.
- W1498937751 hasConcept C141121606 @default.
- W1498937751 hasConcept C145236788 @default.
- W1498937751 hasConcept C162324750 @default.
- W1498937751 hasConcept C2777388388 @default.
- W1498937751 hasConcept C556758197 @default.
- W1498937751 hasConceptScore W1498937751C10138342 @default.
- W1498937751 hasConceptScore W1498937751C120527767 @default.
- W1498937751 hasConceptScore W1498937751C141121606 @default.
- W1498937751 hasConceptScore W1498937751C145236788 @default.
- W1498937751 hasConceptScore W1498937751C162324750 @default.
- W1498937751 hasConceptScore W1498937751C2777388388 @default.
- W1498937751 hasConceptScore W1498937751C556758197 @default.
- W1498937751 hasIssue "2" @default.
- W1498937751 hasLocation W14989377511 @default.
- W1498937751 hasOpenAccess W1498937751 @default.
- W1498937751 hasPrimaryLocation W14989377511 @default.
- W1498937751 hasRelatedWork W1511837520 @default.
- W1498937751 hasRelatedWork W1519266836 @default.
- W1498937751 hasRelatedWork W1541178339 @default.
- W1498937751 hasRelatedWork W1988393249 @default.
- W1498937751 hasRelatedWork W1993803207 @default.
- W1498937751 hasRelatedWork W2099391701 @default.
- W1498937751 hasRelatedWork W2146403543 @default.
- W1498937751 hasRelatedWork W2149871309 @default.
- W1498937751 hasRelatedWork W2158432818 @default.
- W1498937751 hasRelatedWork W2160907966 @default.
- W1498937751 hasRelatedWork W2231272312 @default.
- W1498937751 hasRelatedWork W2264080643 @default.
- W1498937751 hasRelatedWork W2266543521 @default.
- W1498937751 hasRelatedWork W2475821397 @default.
- W1498937751 hasRelatedWork W2503226469 @default.
- W1498937751 hasRelatedWork W2890824892 @default.
- W1498937751 hasRelatedWork W3147556001 @default.
- W1498937751 hasRelatedWork W336984735 @default.
- W1498937751 hasRelatedWork W40048283 @default.
- W1498937751 hasRelatedWork W568639484 @default.
- W1498937751 hasVolume "5" @default.
- W1498937751 isParatext "false" @default.
- W1498937751 isRetracted "false" @default.
- W1498937751 magId "1498937751" @default.
- W1498937751 workType "article" @default.