The October Crash of 1929 and the NYSE Credit System

Ali Kabiri
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Ali Kabiri: University of Buckingham

Chapter 5 in The Great Crash of 1929, 2014, pp 145-173 from Palgrave Macmillan

Abstract: Abstract In this chapter we look at the crash in October 1929 — where stock prices fell by 45 per cent over the last weeks of October — the credit system that developed around the NYSE, and the policy of the Federal Reserve Board towards the boom. What we will see is that an unusual credit system developed to circumvent the Federal Reserve Board’s policy to stop the boom, following the fears of credit growth that they had expressed in 1927 and earlier.

Keywords: Federal Reserve; Money Market; Loan Market; Federal Reserve System; Bank Rate (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_6

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DOI: 10.1057/9781137372895_6

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