Question: Financial crisis is often associated with rising and then persistently

Financial crisis is often associated with rising, and then persistently high, unemployment rates. Plot the U.S. unemployment rate during the Great Depression until the end of the 1930s (FRED code: M0892AUSM156SNBR). Compare the U.S. experience then with unemployment rates in Spain (FRED code: ESPURHARMQDSMEI), Greece (FRED code: GRCURHARMQDSMEI), Italy (FRED code: ITAURHARMMDSMEI), and Portugal (FRED code: PRTURHARMMDSMEI) since the beginning of the financial crisis in 2007. (Turn off the recession bars for the European data plot.)

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  • CreatedOctober 02, 2014
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