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The Microeconomics of Depression Unemployment

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  • Robert A. Margo

Abstract

Microeconomic evidence reveals that the incidence and duration of unemployment in the 1930s varied significantly within the labor force. Long-term unemployment, which was especially high by historical standards, may have been exacerbated by federal relief policies.

Suggested Citation

  • Robert A. Margo, 1990. "The Microeconomics of Depression Unemployment," NBER Historical Working Papers 0018, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberhi:0018
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    1. Obama at the Jobs Summit: Public Works Programs on the Table
      by Matthew Bandyk in Capital Commerce on 2009-12-02 18:00:00

    Citations

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    Cited by:

    1. Price Fishback, 2017. "How Successful Was the New Deal? The Microeconomic Impact of New Deal Spending and Lending Policies in the 1930s," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1435-1485, December.
    2. Timothy J. Hatton & Mark Thomas, 2012. "Labour Markets in Recession and Recovery: The UK and the USA in the 1920s and 1930s," CEH Discussion Papers 001, Centre for Economic History, Research School of Economics, Australian National University.
    3. Alexander J. Field, 2008. "The impact of the Second World War on US productivity growth1," Economic History Review, Economic History Society, vol. 61(3), pages 672-694, August.
    4. Neumann, Todd C. & Fishback, Price V. & Kantor, Shawn, 2010. "The Dynamics of Relief Spending and the Private Urban Labor Market During the New Deal," The Journal of Economic History, Cambridge University Press, vol. 70(1), pages 195-220, March.
    5. Robert A. Margo, 1993. "Employment and Unemployment in the 1930s," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 41-59, Spring.
    6. Timothy J. Hatton & Mark Thomas, 2010. "Labour markets in the interwar period and economic recovery in the UK and the USA," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(3), pages 463-485, Autumn.
    7. Michaillat, Pascal, 2011. "Fiscal Multipliers Over the Business Cycle," CEPR Discussion Papers 8610, C.E.P.R. Discussion Papers.
    8. Jong, H. de & Woltjer, P., 2009. "A Comparison of Real Output and Productivity for British and American Manufacturing in 1935," GGDC Research Memorandum GD-108, Groningen Growth and Development Centre, University of Groningen.
    9. repec:eee:labchp:v:3:y:1999:i:pc:p:3085-3139 is not listed on IDEAS
    10. Charles W. Calomiris & Christopher Hanes, 1994. "Historical Macroeconomics and American Macroeconomic History," NBER Working Papers 4935, National Bureau of Economic Research, Inc.
    11. Liu, Xing & Fishback, Price, 2019. "Effects of New Deal Spending and the downturns of the 1930s on private labor markets in 1939/1940," Explorations in Economic History, Elsevier, vol. 71(C), pages 25-54.
    12. Frank Levy & Peter Temin, 2007. "Inequality and Institutions in 20th Century America," NBER Working Papers 13106, National Bureau of Economic Research, Inc.
    13. Price V. Fishback, 2012. "Relief During the Great Depression in Australia and America," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 52(3), pages 221-249, November.
    14. Holt, Andrew Chase, 2024. "Monopsony power in the United States: Evidence from the great depression," Explorations in Economic History, Elsevier, vol. 92(C).
    15. repec:dgr:rugggd:gd-108 is not listed on IDEAS
    16. Fishback, Price V. & Kantor, Shawn & Wallis, John Joseph, 2003. "Can the New Deal's three Rs be rehabilitated? A program-by-program, county-by-county analysis," Explorations in Economic History, Elsevier, vol. 40(3), pages 278-307, July.
    17. Daniel K. Fetter & Lee M. Lockwood, 2018. "Government Old-Age Support and Labor Supply: Evidence from the Old Age Assistance Program," American Economic Review, American Economic Association, vol. 108(8), pages 2174-2211, August.
    18. Kris Inwood & Chris Minns & Fraser Summerfield, 2016. "Reverse assimilation? Immigrants in the Canadian labour market during the Great Depression," European Review of Economic History, European Historical Economics Society, vol. 20(3), pages 299-321.
    19. Price V. Fishback & John Joseph Wallis, 2012. "What Was New About the New Deal?," NBER Working Papers 18271, National Bureau of Economic Research, Inc.
    20. Gabriel P. Mathy, 2018. "Hysteresis and persistent long-term unemployment: the American Beveridge Curve of the Great Depression and World War II," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliom├ętrie), vol. 12(1), pages 127-152, January.
    21. Charles W. Calomiris, 1993. "Financial Factors in the Great Depression," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 61-85, Spring.

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