The Great Contraction of 1929–1932 and the Value of Stocks

Ali Kabiri
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Ali Kabiri: University of Buckingham

Chapter 6 in The Great Crash of 1929, 2014, pp 174-186 from Palgrave Macmillan

Abstract: Abstract The Great Depression, and what caused it, was famously dubbed ‘the holy grail of macroeconomics’ by Ben S. Bernanke, the former Chairman of the Federal Reserve Board (Bernanke, 1995). This period is of great interest to economic historians and financial economists due to the scale of the crises which occurred at that time, the global dimensions, and the complexity of understanding how the Depression developed.

Keywords: Stock Market; Banking System; Risk Premium; Federal Reserve; Stock Prex (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_7

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DOI: 10.1057/9781137372895_7

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