Economics, Econometrics and Finance
4 years ago

1929 Stock Market Bubble Debunked: No Bubbles in American Market.

The Journal of Economic History
Was There a Bubble in the 1929 Stock Market?
Peter Rappoport, Eugene N. White

Paper Summary

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The 1929 stock market did have a bubble, despite what some recent studies suggest. By looking at loan prices to stock brokers, we can see that there was indeed a bubble in stock prices back then. This bubble played a big role in how stock prices behaved, even though some tests say there wasn't a bubble.