THE SUPPLY PRICE OF LABOR DURING THE GREAT DEPRESSION
利用女性文员求职广告中的期望工资数据，发现1929至1933年间名义期望工资下降近58%，远低于在职员工工资，且与农业工资降幅相当，强烈反驳了大萧条时期劳动力市场出清的观点。
This article presents somewhat-more-direct evidence than has been available on the supply price of labor during the Depression. The new data comprise wages asked from situations-wanted ads for female clerical workers. Between 1929 and 1933 annual average clerical wages asked fell nominally by nearly 58 percent, markedly lower than wages of new or existing employees. Neither changes in labor quality nor self-selection explains the decline. Clerical wages asked fell by roughly the same percentage as did wages paid in agriculture. The data are strongly inconsistent with the market-clearing view of Depression-era labor markets.