TY  - JOUR
AU  - Margo,Robert A.
TI  - Employment and Unemployment in the 1930s
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4174
PY  - 1992
Y2  - September 1992
UR  - http://www.nber.org/papers/w4174
L1  - http://www.nber.org/papers/w4174.pdf
N1  - Author contact info:
Robert A. Margo
Department of Economics
Boston University
270 Bay State Road
Boston, MA 02215
Tel: 617/353-6819
Fax: 617/343-8495
E-Mail: margora@bu.edu
AB  - This 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.
ER  -