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- Title
Macroeconomic Stabilization through an Employer of Last Resort.
- Authors
Fullwiler, Scott T.
- Abstract
The article creates a Fairmodel simulation which measures the quantitative effects of the employer of last resort (ELR) policy in terms of macroeconomic properties of stabilization. The author reports on federal funding, business cycles, spending, and wage and job proponents. A breakdown of the ELR simulated program is offered. Topics discussed include how unemployment affects wage rate v. price level, inflation v. deflation, budgets, federal interest rates, and business tax rates. Seidman and Lewis's Asymmetric Transfer and the Stochastic Simulation Procedure are discussed at length. Private incomes and federal spending among other elements could affect the Fairmodel ELR program.
- Subjects
UNITED States; MACROECONOMICS; ECONOMIC models; EMPLOYMENT stabilization; BUSINESS cycles; LABOR laws; FEDERAL funds market (U.S.); EFFECT of wages on unemployment; STOCHASTIC analysis; PRICE inflation &; taxation; ECONOMICS
- Publication
Journal of Economic Issues (Association for Evolutionary Economics), 2007, Vol 41, Issue 1, p93
- ISSN
0021-3624
- Publication type
Article
- DOI
10.1080/00213624.2007.11506997