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Article: Stock market prices. (Research Summaries)
- Article from:
- NBER Reporter
- Article date:
- June 22, 1989
- Author:
CopyrightCOPYRIGHT 1989 National Bureau of Economic Research, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Stock Market Prices
Since the catastrophic stock market crash of October 1929 and the resulting Great Depression, economists and policymakers have been extremely interested in the behavior of financial asset prices. The Securities Exchange Act of 1934 and the creation of the Securities and Exchange Commission were direct consequences of the turbulent markets of the 1920s, and much subsequent regulatory legislation has been designed to reduce the wild price swings generally associated with "speculative" investors. In the wake of the more recent "October Massacre," understanding how and why equity prices fluctuate has never been more important. This summary describes ...
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