Unemployment in Interwar Britain: Dole or Doldrums?
AbstractSeveral controversial recent studies seek to explain interwar Britain's high unemployment rate in terms of the generosity of her unemployment-insurance system. All of these studies are macroeconomic in nature. In contrast, this paper employs a micro economic sample of some 2,400 adult males to analyze the relationship of unemployment benefits to unemployment in 1929-31. The author find s a generally positive but small association between unemployment inc idence and the estimated benefit/wage ratio, but one limited largely to secondary workers. The contribution of insurance benefits to inter war unemployment turns out to be small in the context of the Great De pression. Copyright 1987 by Royal Economic Society.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 39 (1987)
Issue (Month): 4 (December)
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Other versions of this item:
- Eichengreen, Barry, 1987. "Unemployment in Interwar Britain: Dole or Doldrums?," CEPR Discussion Papers 207, C.E.P.R. Discussion Papers.
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- James M. Nason & Shaun P. Vahey, 2006. "Interwar U.K. unemployment: the Benjamin and Kochin hypothesis or the legacy of “just” taxes?," Working Paper 2006-04, Federal Reserve Bank of Atlanta.
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"Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions,"
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- Harold L. Cole & Lee E. Ohanian, 2001. "The great U.K. depression: a puzzle and possible resolution," Staff Report 295, Federal Reserve Bank of Minneapolis.
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