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The Course Of The Great Depres
Part 1 of Paper
....on this period is natural because the 32 percent decline in stock values between the market closes of October 13 and 19, 1987, was of the magnitude of--indeed, it actually exceeded--the October 1929 debacle. Focus on this period is also appropriate because, despite all that has been learned since to help assure economi.... Part 2 of Paper
....s did not stand idly by as the financial markets and the economy unraveled. There are questions, though, about the appropriateness and magnitude of their responses. Monetary policy, determined and conducted then, as now, by the Federal Reserve, became restrictive early in 1928, as Federal Reserve officials grew increasingly concerned about the rapid pace of credit expansion, some of which was fueling stock market speculation. This policy stance essentially was maintained until the stock market C.... |
| Number of words: 3468 - Approximate pages: 13 |
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