1920 Recession (1 ene 1920 año – 1 jul 1921 año)

Descripción:

Began 10 months after WWI Recession
Lasted 1 year and 6 months
Unemployment rate: 5.2
Caused by troops returning from the war, which created a surge in the civilian labor force and more unemployment and wage stagnation; a decline in agricultural commodity prices because of the post-war recovery of European agricultural output, which increased supply; tighter monetary policy to combat the postwar inflation of 1919; and expectations of future deflation that led to reduced investment.

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