Crash of 1929

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The stock exchange crash

Explanations

[1]

The historical evidence suggests that the stock market crashed because the Federal Reserve severely tightened credit to stock investors, not because stocks were overvalued. Subsequent easing of credit was coincident with a recovery in stock prices.

Contributory factors

Consequences

References

  1. ↑ [http://www.bportugal.pt/events/conferences/CME/mppaper.pdf Ellen McGrattan: The Stock Market Crash of 1929: Irving Fisher Was Right!, Federal Reserve Bank of Minneapolis, Research Department Staff Report 294, December 2001]
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