Public Policy for Working People
Public Policy for Working People
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劳动人民的公共政策
DOI：
10.1007/978-3-319-46442-8_2
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发表时间：
2017
影响因子：
2.8
通讯作者：
M. Murray
中科院分区：
文献类型：
--
作者：
M. Murray
鉴于当前货币和财政政策的无效性，本章提出了一个问题，是否有更好的替代方案？本章以新凯恩斯主义谬误和以工人为中心的公共政策的必要性开始。希望本章能够通过将充分就业的最后雇主（ELR）方法植根于古典凯恩斯主义政治经济学的理论框架，为该方法提供进一步的理由。此外，在CKPE生产模型中建模ELR时，本章通过建模一个完全资助的、中立的ELR计划，略微偏离了现有的ELR文献;但（希望）有充分的理由。在其他地方，Wray（1998）和其他人讨论了在现代货币理论（MMT）原则下运行的ELR计划的宏观经济结果。雷和现代货币理论的支持者或多或少地阐述了完全赤字融资的ELR的结果。这里分析了相反的极端，模拟提出了这样的问题.这些结果对于操作非主权货币的政府来说很重要。但对于希望用主权货币操作ELR的国家来说，这一结果可能也很有趣。在实践中，即使有主权货币，政府也很可能不会在任何一个极端操作ELR;相反，政府将部分资助ELR（如果有其他原因，可能是出于政治原因）。因此，通过用平衡预算模型来对抗MMT模型，公共政策官员可以理解每个极端的影响，并更好地了解如果ELR在中间的某个地方运行，宏观经济结果会是什么。
Given the ineffectiveness of contemporary monetary and fiscal policy, this chapter begs the question, is there a better alternative? The chapter opens with New Keynesian fallacies and the need for public policy centered on workers. The hope is that this chapter can provide further justification for the Employer of Last Resort (ELR) approach to full employment, by rooting it in the theoretical framework of Classical Keynesian Political Economy. Further, while modeling the ELR within a CKPE production model, this chapter deviates slightly from the existing literature on the ELR by modeling a fully funded, budget-neutral ELR program; but (hopefully) with good reason. Elsewhere, Wray (1998) and others have discussed the macroeconomic outcomes of an ELR program operating under the principles of Modern Money Theory (MMT). Wray, and proponents of MMT, more or less, articulate the outcomes of a fully deficit-financed ELR. Here the opposite extreme is analyzed, and the simulation asks … what are the macroeconomic outcomes of a budget-neutral ELR? These results are important for governments operating non-sovereign currencies to understand. But the result may also be interesting for countries wishing to operate an ELR with a sovereign currency. In practice, even with a sovereign currency, a government would most likely not operate an ELR at either extreme; rather the government would partially fund an ELR (perhaps for political reasons if anything else). Thus by countering the MMT model with a balanced budget model, public policy officials can understand the effects at each extreme and get a better idea of what the macroeconomic outcomes would be if an ELR were operating some place in the middle.