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The 1920s and 1930s: The Brady Report

In: Money, Credit and Asset Prices

Author

Listed:
  • Gordon Pepper

    (Department of Banking and Finance, City University Business School)

Abstract

After the October 1987 crash in the US stock market a presidential task force on market mechanisms was set up, commonly called the Brady Commission. Its report contained various analytical studies, one of which compared the crashes of 1987 and 1929. The conclusion was that lending to purchase stock did not account for any significant fraction of the 1929 crash. This challenged the theme of this book and merited serious investigation. This chapter is based on a discussion paper, written in 1989, that described the results. The conclusions were directly contrary to the findings of the Brady Commission.

Suggested Citation

  • Gordon Pepper, 1994. "The 1920s and 1930s: The Brady Report," Palgrave Macmillan Books, in: Money, Credit and Asset Prices, chapter 14, pages 217-227, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37593-2_15
    DOI: 10.1057/9780230375932_15
    as

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