In discussing the situation of countries leaving the gold standard, or "unilaterally devaluing" during the 1930s, Barry Eichengreen of the University of California, Berkeley, and Jeffrey Sachs of Columbia University observe: "In all cases of unilateral devaluation, currency depreciation increases output and employment in the devaluing country." Explain how leaving the gold standard in the 1930s would lead to an increase in a country's output and employment. Source: Barry Eichengreen and Jeffrey Sachs, "Exchange Rates and Economic Recovery in the 1930s," Journal of Economic History, Vol. 45, No. 4, December 1985, p. 934