Employment and Unemployment in the 1930s
AbstractThis paper surveys recent research on employment and unemployment in the 1930s. Unlike earlier studies that tended to rely heavily on aggregate time series, the research discussed in this paper focuses on disaggregated data. This shift in focus stems from two factors. First, dissaggregated evidence provides many more degrees of freedom than the decade of annual observations associated with the depression and thus can prove helpful in discriminating between macroeconomic models. Second, and more importantly, disaggregation has revealed aspects of labor market behavior hidden in the time series that are essential to their proper interpretation and which are, in any case, important in their own right. In particular, the findings dispute the view that representative-agent models are useful for interpreting shifts in employment and unemployment over the course of the Depression.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4174.
Date of creation: Sep 1992
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Other versions of this item:
- N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
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