Are depression-era employment swings overstated?

Jonathan Lecznar, Jessica Sackett Romero and Pierre Daniel Sarte

Richmond Fed Economic Brief, 2012, issue Nov, No 12-11

Abstract: The rapid fall in unemployment after the Great Depression suggests that there is nothing inherently persistent in a high unemployment rate. But a closer examination of the data indicates that changes in the unemployment rate might not have been as pronounced as generally believed.

Keywords: Labor market; Unemployment (search for similar items in EconPapers)
Date: 2012
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