(Tell Me Why) I Don’t Like Mondays: The Crash of 1987

Geoffrey D. Klinger, Jennifer Adams () and Kevin Howley ()
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Geoffrey D. Klinger: DePauw University
Jennifer Adams: DePauw University
Kevin Howley: DePauw University

Chapter Chapter 8 in Money Talks, 2022, pp 131-142 from Springer

Abstract: Abstract The Crash of 1987 came just after Greenspan took office. It was an early test not only of his intellectual commitments, but also of his ability to handle his new position. The crisis challenged Greenspan’s assumptions about the self-correcting mechanisms of the market. While he was perhaps willing to accept some economic hardship to wage his war on inflation, he wanted any downturns in the economy carefully planned and controlled. Circumstances did not always accommodate his wishes. But, as this chapter demonstrates, Greenspan had a well-developed ability to adapt to changing circumstances, even when they are radical and unexpected.

Keywords: Alan Greenspan; Crash of 1987; Financial markets; Great Depression; Inflation; Self-correcting mechanism (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-00816-0_8

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DOI: 10.1007/978-3-031-00816-0_8

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