{"id":3033,"date":"2012-01-10T10:43:58","date_gmt":"2012-01-10T15:43:58","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=3033"},"modified":"2012-01-10T10:47:35","modified_gmt":"2012-01-10T15:47:35","slug":"a-third-way-on-fiscal-policy","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/a-third-way-on-fiscal-policy\/","title":{"rendered":"A Third Way on Fiscal Policy"},"content":{"rendered":"<p>Courtesy of INET, here is Pavlina Tcherneva explaining her &#8220;bottom up&#8221; approach to fiscal policy.<\/p>\n<p><iframe loading=\"lazy\" src=\"http:\/\/ineteconomics.org\/ivideo?v=Bhros6jImt4&amp;size=medium\" width=\"400\" height=\"225\"><\/iframe><\/p>\n<p>Notice the way she uses the term &#8220;trickle down&#8221; to apply also to conventional pump-priming fiscal policy (targeting growth and hoping for the right employment side-effects).\u00a0 We need to move beyond the conventional options on fiscal policy, says Tcherneva; beyond a fiscal policy space marked out by aggregate demand management on one end and austerity on the other.\u00a0 There&#8217;s a third approach that&#8217;s more in tune with the &#8220;original Keynesian spirit,&#8221; as she puts it:\u00a0 directly employing the unemployed.\u00a0 We should be targeting employment and the unemployed directly rather than trying to achieve this through the kind of bank-shot maneuver represented by conventional pump priming.<\/p>\n<p>You can read some of Tcherneva&#8217;s work on this issue <a href=\"http:\/\/www.levyinstitute.org\/publications\/?docid=1348\">here<\/a> and <a href=\"http:\/\/www.levyinstitute.org\/publications\/?docid=1349\">here<\/a>.\u00a0 One-pager <a href=\"http:\/\/www.levyinstitute.org\/pubs\/op_16.pdf\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy of INET, here is Pavlina Tcherneva explaining her &#8220;bottom up&#8221; approach to fiscal policy. Notice the way she uses the term &#8220;trickle down&#8221; to apply also to conventional pump-priming fiscal policy (targeting growth and hoping for the right employment side-effects).\u00a0 We need to move beyond the conventional options on fiscal policy, says Tcherneva; beyond [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3,49],"tags":[165,1131,34,11],"class_list":["post-3033","post","type-post","status-publish","format-standard","hentry","category-economic-policy","category-employment","category-fiscal-policy","tag-aggregate-demand","tag-fiscal-policy","tag-keynes","tag-unemployment"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=3033"}],"version-history":[{"count":15,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3033\/revisions"}],"predecessor-version":[{"id":3218,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3033\/revisions\/3218"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=3033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=3033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=3033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}