The Microeconomics of Depression Unemployment
NBER Historical Working Paper No. 18
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.
Published: Journal of Economic History, Vol.51, No.2, June 1991, pp.333-341.