New deal policies and the persistence of the Great Depression: A general equilibrium analysis

Journal of Political Economy

Volumn 112, Issue 4, 2004, Pages 779-816

  Cole, Harold L ^a   Ohanian, Lee E ^a,b  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

BARGAINING; ECONOMIC GROWTH; GENERAL EQUILIBRIUM ANALYSIS; GREAT DEPRESSION; WAGE DETERMINATION;

NORTH AMERICA; UNITED STATES;

EID: 4544279195     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/421169     Document Type: Article

References (30)

1. Alchian, Armen A. 1970. "Information Costs, Pricing, and Resource Unemployment." In Microeconomic Foundations of Employment and Inflation Theory, edited by Edmund S. Phelps et al. New York: Norton.
2. Alvarez, Fernando, and Marcelo Veracierto. 2000. "Labor-Market Policies in an Equilibrium Search Model." In NBER Macroeconomics Annual 1999, edited by Ben S. Bernanke and Julio J. Rotemberg. Cambridge, Mass.: MIT Press.
3. Beney, M. Ada. 1936. Wages, Hours, and Employment in the United States, 1914-1936, New York: Nat. Indus. Conf. Bd.
4. Blanchard, Olivier J., and Lawrence H. Summers. 1986. "Hysteresis and the European Unemployment Problem." In NBER Macraeconomics Annual 1986, edited by Stanley Fischer. Cambridge, Mass.: MIT Press.
5. Board of Governors of the Federal Reserve System. 1943. Banking and Monetary Statistics. Washington, D.C.: Bd. Governors.
6. Cole, Harold L., and Lee E. Ohanian. 1999. "The Great Depression in the United States from a Neoclassical Perspective." Fed. Reserve Bank Minneapolis Q. Rev. 23 (Winter): 2-24.
7. Cole, Harold L., and Lee E. Ohanian 2001. "New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis." Working Paper no. 597 (February). Minneapolis: Fed. Reserve Bank.
8. Darby, Michael R. 1976. "Three-and-a-Half Million U.S. Employees Have Been Mislaid: Or, an Explanation of Unemployment, 1934-1941." J.P.E. 84 (February): 1-16.
9. Friedman, Milton, and Anna Jacobson Schwartz. 1963. A Monetary History of the United States, 1867-1960. Princeton, N.J.: Princeton Univ. Press.
10. Gali, Jordi. 1995. "Non-Walrasian Unemployment Fluctuations." Working Paper no. 5337 (November). Cambridge, Mass.: NBER.
11. Greenwood, Jeremy, Zvi Hercowitz, and Per Krusell. 2000. "The Role of Investment-Specific Technological Change in the Business Cycle." European Econ. Rev. 44 (January): 91-115.
12. Hanes, Christopher. 1996. "Changes in the Cyclical Behavior of Real Wage Rates, 1870-1990." J. Econ. Hist. 56 (December): 837-61.
13. Harris, John R., and Michael P. Todaro. 1970. "Migration, Unemployment and Development: A Two-Sector Analysis." A.E.R. 60 (March): 126-42.
14. Hawley, Ellis W. 1966. The New Deal and the Problem of Monopoly: A Study in Economic Ambivalence. Princeton, NJ.: Princeton Univ. Press.
15. Ickes, Harold L. 1953-54. The Secret Diary of Harold Ickes. 3 vols. New York: Simon and Schuster.
16. Johnson, Hugh S. 1935. The Blue Eagle, from Egg to Earth. Garden City, N.Y.: Doubleday, Doran.
17. Kennedy, David M. 1999. Freedom ftom Fear. The American People in Depression and War, 1929-1945. Oxford History of the United States, vol. 9. New York: Oxford Univ. Press.
18. Lewis, H. Gregg. 1963. Unionism and Relative Wages in the United States: An Empirical Inquiry. Chicago: Univ. Chicago Press.
19. Lindbeck, Assar, and Dennis J. Snower. 1988. The Insider-Outsider Theory of Employment and Unemployment. Cambridge, Mass.: MIT Press.
20. Lucas, Robert E., Jr., and Leonard A. Rapping. 1972. "Unemployment in the Great Depression: Is There a Full Explanation?" J.P.E. 80 (January/February): 186-91.
21. Lyon, Leverett S., et al. 1935. The National Recovery Administration: An Analysis and Appraisal. Washington, D.C.: Brookings Inst.
22. Millis, Harry, and Emily Clark Brown. 1950. From the Wagner Act to Taft-Hartley: A Study of National Labor Policy and Labor Relations. Chicago: Univ. Chicago Press.
23. Mulligan, Casey B. 2000. "A Century of Labor-Leisure Distortions." Working Paper no. 8774 (February). Cambridge, Mass.: NBER.
24. National Recovery Administration. 1933-35. Codes of Fair Competition. 23 vols. Washington, D.C.: Government Printing Office.
25. National Review Recovery Board. 1935. Reports to the President of the United States. Washington, D.C.: Government Printing Office.
26. Pierce, Phyllis, ed. 1982. The Dow Jones Averages, 1885-1980. Homewood, III.: Dow Jones-Irwin.
27. Posner, Richard A. 1970. "A Statistical Study of Antitrust Enforcement." J. Law and Econ. 13 (October): 365-419.
28. Reynolds, Lloyd G., and Cynthia H. Taft. 1955. The Evolution of Wage Structure. New Haven, Conn.: Yale Univ. Press.
29. Ross, Arthur M. 1948. Trade Union Wage Policy. Berkeley: Univ. California Press.
30. Taft, Philip. 1964. Organized Labor in American History. New York: Harper and Row.