Out of Work. Richard K Vedder

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target="_blank" rel="nofollow" href="#ulink_1ad50664-abdd-57e9-a392-6566e54a57c9">Table 5.2 summarizes the actual unemployment rates for the years 1929 through 1933 using the BLS, Darby, and Coen data, and also gives the statistically estimated rate obtained using the expanded basic adjusted real wage regression model outlined in chapter 3 relating unemployment to changes in prices, money wages, and productivity over the past six years, as well as the lagged adjusted real wage. The results are based on the 1900–1989 period. In addition, we used a somewhat different model with the Darby data, utilizing some wage and productivity data compiled by Darby.⁹

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