Slack and Slacker: Job Seekers, Job Vacancies, and Matching Functions in the U.S. Labor Market during the Roaring Twenties and the Great Contraction, 1924–1932
利用1920年代和1930年代初美国公共就业办公室的城市月度数据，估计了劳动力市场的匹配函数，发现1920年代职位空缺相对不足，大萧条期间更加松弛，但匹配效率并未下降，暗示需要政府实施创造就业的政策。
I use unique city-month level disaggregated data, from public employment offices, to estimate the matching functions for the 1920s and the early 1930s. The results show that the public labor exchange was slack, a relative deficiency of job vacancies, in the 1920s and it became slacker during the Great Depression. However, the findings show that there was no deterioration of the matching efficiency in the early 1930s. The outcome of a deficiency of labor demand during the 1930s implies that there was a need for effective government policies to implement the new job-creation programs.