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The money multiplier declined significantly during the period 19301933 and also during the 2008 financial crisis of 20082010. Yet the M1 money supply decreased by
The money multiplier declined significantly during the period 19301933 and also during the 2008 financial crisis of 20082010. Yet the M1 money supply decreased by 25% in the Depression period but increased by more than 20% during the 2008 financial crisis. What explains the difference in outcomes
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