The 1920s and 1930s: The Brady Report

Gordon Pepper
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Gordon Pepper: Department of Banking and Finance, City University Business School

Chapter 14 in Money, Credit and Asset Prices, 1994, pp 217-227 from Palgrave Macmillan

Abstract: Abstract After the October 1987 crash in the US stock market a presidential task force on market mechanisms was set up, commonly called the Brady Commission. Its report contained various analytical studies, one of which compared the crashes of 1987 and 1929. The conclusion was that lending to purchase stock did not account for any significant fraction of the 1929 crash. This challenged the theme of this book and merited serious investigation. This chapter is based on a discussion paper, written in 1989, that described the results. The conclusions were directly contrary to the findings of the Brady Commission.

Keywords: Stock Market; Stock Price; Stock Prex; Share Price; Historical Evidence (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37593-2_15

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DOI: 10.1057/9780230375932_15

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