{"id":1209,"date":"2018-09-14T05:32:16","date_gmt":"2018-09-14T12:32:16","guid":{"rendered":"http:\/\/www.thomaspalley.com\/?p=1209"},"modified":"2019-09-20T05:31:34","modified_gmt":"2019-09-20T12:31:34","slug":"government-spending-in-the-income-expenditure-model-spending-composition-the-multiplier-and-job-guarantee-programs","status":"publish","type":"post","link":"https:\/\/thomaspalley.com\/?p=1209","title":{"rendered":"Government Spending in the Income-Expenditure Model:  Spending Composition, the Multiplier, and Job Guarantee Programs"},"content":{"rendered":"<p>This paper reconstructs the income \u2013 expenditure (IE) model to include a distinction between government purchases of output versus government production. The distinction has important consequences for output and employment multipliers. The paper also extends the IE model to incorporate a government job guarantee program (JGP), and the extended model illuminates the automatic stabilizer properties of a JGP. The model is then extended to include Kaleckian income distribution effects. That generates a novel Kaleckian balanced budget multiplier driven by changed composition of government spending. The paper concludes with some economic and political economy concerns about a JGP that are flagged by the model.<\/p>\n<p><a href=\"https:\/\/www.boeckler.de\/pdf\/p_fmm_imk_wp_30_2018.pdf\" rel=\"nofollow\">[READ MORE]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This paper reconstructs the income \u2013 expenditure (IE) model to include a distinction between government purchases of output versus government production. The distinction has important consequences for output and employment multipliers. The paper also extends the IE model to incorporate a government job guarantee program (JGP), and the extended model illuminates the automatic stabilizer properties [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7,3,1],"tags":[],"class_list":["post-1209","post","type-post","status-publish","format-standard","hentry","category-economics","category-political-economy","category-us-policy","category-1"],"_links":{"self":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/1209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1209"}],"version-history":[{"count":5,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/1209\/revisions"}],"predecessor-version":[{"id":1758,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=\/wp\/v2\/posts\/1209\/revisions\/1758"}],"wp:attachment":[{"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thomaspalley.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}