Labor productivity during the Great Depression

Michael D. Bordo; Charles L. Evans

doi:10.1016/0165-1765(94)00517-6

Labor productivity during the Great Depression

Michael D. Bordo
, Charles L. Evans

School of Arts and Sciences, Economics

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

Abstract

During the 1929-1933 contraction, labor productivity was countercyclical in several manufacturing sectors- evidence consistent with the view that large negative demand shocks pushed the economy down a static, neoclassical production function. This evidence does not readily square with explanations for the contraction emphasizing labor hoarding and increasing returns.

Original language	English (US)
Pages (from-to)	41-45
Number of pages	5
Journal	Economics Letters
Volume	47
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(94)00517-6
State	Published - Jan 1995

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

Keywords

Countercyclical manufacturing
Great Depression
Labor productivity

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10.1016/0165-1765(94)00517-6

Cite this

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title = "Labor productivity during the Great Depression",

abstract = "During the 1929-1933 contraction, labor productivity was countercyclical in several manufacturing sectors- evidence consistent with the view that large negative demand shocks pushed the economy down a static, neoclassical production function. This evidence does not readily square with explanations for the contraction emphasizing labor hoarding and increasing returns.",

keywords = "Countercyclical manufacturing, Great Depression, Labor productivity",

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year = "1995",

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language = "English (US)",

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AB - During the 1929-1933 contraction, labor productivity was countercyclical in several manufacturing sectors- evidence consistent with the view that large negative demand shocks pushed the economy down a static, neoclassical production function. This evidence does not readily square with explanations for the contraction emphasizing labor hoarding and increasing returns.

KW - Countercyclical manufacturing

KW - Great Depression

KW - Labor productivity

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JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Labor productivity during the Great Depression

Abstract

All Science Journal Classification (ASJC) codes

Keywords

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