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A Simulation Study for the Economic Growth By the Basic Income Policy - Forecasting Based on A Stock-flow Dynamic Model -
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기본소득의 경제성장 효과 시뮬레이션― 유량-저량 동태모형에 의한 예측 ―

논문 기본 정보

Type
Academic journal
Author
JungJaeheon (부경대학교)
Journal
한국경제발전학회 경제발전연구 경제발전연구 제27권 제4호 KCI Accredited Journals
Published
2021.12
Pages
1 - 37 (37page)

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A Simulation Study for the Economic Growth By the Basic Income Policy - Forecasting Based on A Stock-flow Dynamic Model -
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Abstract· Keywords

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The Post-Keynesian policy emphasizing income led growth (same as wage led growth) was implemented partly through minimum wage increase and welfare system reinforcement under the Korean Moon government. Post-Keynesians argue that Korea has demand shortage specially coming from the income inequality so that the economy will have depression when the export become difficult. But their policy was challenged when the depression became serious, by the economists saying the old policy emphasizing the economic growth through the export increase and investment induced by the increase. This simulation study using the post-Keynesian stock-flow dynamic model shows that demand side economic policy (especially basic income) has more superior economic growth effect via demand increase and the investment induced by the increase than the old policies.

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