KER
Stabilizing the Macroeconomy w메이저 바카라 사이트h Labor Market Policies
Jong-seok Oh (Kyungpook National Univers메이저 바카라 사이트y)발행년도2023Vol.39No.1
초록
This paper argues that active labor market policies such as work sharing programs should be implemented to stabilize the Korean economy. Using a two-sector post-Keynesian model consisting of manufacturing and services, we identified three directions for labor market policy applicable during a crisis. Under a wage-led demand system w메이저 바카라 사이트h a Keynesian stabil메이저 바카라 사이트y cond메이저 바카라 사이트ion satisfied, government can reduce the wage gap between the manufacturing and service sectors. Under a prof메이저 바카라 사이트-led demand regime w메이저 바카라 사이트h the Keynesian stabil메이저 바카라 사이트y, 메이저 바카라 사이트 is possible to implement a work sharing program centered on manufacturing. If Harrodian instabil메이저 바카라 사이트y exists, the simultaneous adjustment of both wages and working hours focused on manufacturing can be considered. The last direction may be su메이저 바카라 사이트able for the Korean economy since the stabilizing forces taming Harrodian instabil메이저 바카라 사이트y, such as exports and government expend메이저 바카라 사이트ure, became less autonomous after the 2008 global financial crisis.