Financial crisis is often associated with rising, and then persistently high, unemployment rates. Plot the U.S. unemployment

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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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Money Banking and Financial Markets

ISBN: 978-0078021749

4th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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