The US Economy and the Financial System

Ali Kabiri
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Ali Kabiri: University of Buckingham

Chapter 3 in The Great Crash of 1929, 2014, pp 58-93 from Palgrave Macmillan

Abstract: Abstract Perhaps one of the most famous economic time series graphs of all time is the US stock market boom and crash of the 1920s and 1930s. What can be seen is a large run-up in prices and then a large reversal. The temptation many have succumbed to is to see the boom and bust as prima facie evidence of an overvaluation. Although such an interpretation would be correct to a certain extent, it does not offer explanation as to how changes in the economy and investors’ ideas may have driven the changes, which can be verified scientifically.

Keywords: Stock Market; Central Bank; Federal Reserve; Money Supply; Inflation Expectation (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-1-137-37289-5_4

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DOI: 10.1057/9781137372895_4

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