Monetary Policies In The 1920's
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Throughout most of the 1920s decade the American dollar was undervalued. Many argue that the gold exchange standard was partly to blame for the boom in United Sates economy which led to the credit bubble and stock market crash of 1929 (Bernanke 2001). After the depression in the 1930s the United States left the gold standards behind and switch the exchange rate. Ultimately, the difference in monetary policy was that in the 1920s America was still on the gold exchange standard.
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