Abstract
Unemployment in the 1930s is a central issue in macroeconomics, and it is the persistence of high unemployment that makes the Great Depression unique in American history. Why were rates of unemployment so high for so long? How can one reconcile persistent unemployment with the rise in real wages throughout much of the decade?
I am grateful to Martin Baily, Barry Eichengreen, Stanley Engerman, David Feldman, Claudia Goldin, Tim Hatton, Takao Kato, Tom Michl, Mark Rockel, Charles Trout, John Wallis, and participants at the Conference on Interwar Unemployment in International Perspective for helpful comments. Errors are my own.
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Margo, R. (1988). Interwar Unemployment in the United States: Evidence from the 1940 Census Sample. In: Eichengreen, B., Hatton, T.J. (eds) Interwar Unemployment in International Perspective. NATO ASI Series, vol 43. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2796-4_9
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DOI: https://doi.org/10.1007/978-94-009-2796-4_9
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