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Wage Policy as an Essential Ingredient in Job Creation

机译:工资政策是创造就业机会的基本要素

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Monetary policy has shown that it is not sufficient to stimulate economic activity to produce full employment But the author argues that fiscal policy would not be enough, either. We need a robust wage policy specifically designed to increase what people make on the job.rnI have been arguing for a wage policy as a necessary ingredient in the policy arsenal for the creation of jobs. Although this will strike some as counterintuitive because of the neoclassical assumption that a wage policy that artificially raises wages will have adverse employment consequences, it is really illogical to assume that merely lowering interest rates that provide incentives for firms to expand and hire new workers can really result in the long-term creation of jobs if workers, because of their stagnant wages, cannot afford to demand goods and services.
机译:货币政策已经表明,刺激经济活动不足以创造充分就业机会是不够的,但是作者认为,财政政策也不够。我们需要一个强有力的工资政策,专门设计用来增加人们在工作中的收入。我一直认为工资政策是创造就业的政策库中的必要组成部分。尽管由于新古典主义的假设,即人为提高工资的工资政策会带来不利的就业后果,这在某种程度上是违反直觉的,但是,假设仅仅降低利率以激励企业扩大和雇用新工人的做法确实可以说是不合逻辑的。如果工人由于工资停滞而负担不起需求的商品和服务,将导致长期创造就业机会。

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  • 来源
    《Challenge》 |2012年第6期|p.26-52|共27页
  • 作者

    Oren Levin-Waldman;

  • 作者单位

    Metropolitan College of New York;

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  • 原文格式 PDF
  • 正文语种 eng
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