Macroeconomic Stability, Affordability and Manageability of Employer of Last Resort Programmes
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منابع مشابه
Segmented Labor Markets, Distributive Cycles and an Employer of Last Resort
The paper builds on the baseline Goodwin (1967) model which describes the reserve army mechanism of capitalist economies. We add to this model segmented labor markets as described in Marx’s Capital, Vol.I. The model exhibits a unique steady state solution which depends on the speeds with which workers are pushed into or out of the labor market segments. We investigate the stability properties o...
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