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The 1987 US Stock Market Crash

Anna Jacobson Schwartz

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Abstract

Will the Crash of 1987 be followed by a deep depression like the crash of 1929?Professor Anna Schwartz, who collaborated with Professor Milton Friedman in writing‘The Monetary History of the United States’, argues that the 1987 crash will only be followed by a severe recession if the Federal Reserve allows a collapse of the money supply as it did in the early 1930s.

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Will the Crash of 1987 be followed by a deep depression like the crash of 1929?Professor Anna Schwartz, who collaborated with Professor Milton Friedman in writing‘The Monetary History of the United States’, argues that the 1987 crash will only be followed by a severe recession if the Federal Reserve allows a collapse of the money supply as it did in the early 1930s.

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Available abstract

Will the Crash of 1987 be followed by a deep depression like the crash of 1929?Professor Anna Schwartz, who collaborated with Professor Milton Friedman in writing‘The Monetary History of the United States’, argues that the 1987 crash will only be followed by a severe recession if the Federal Reserve allows a collapse of the money supply as it did in the early 1930s.

Key concepts: Crash, Great Depression, Stock market crash, Recession, Stock market, Keynesian economics, Economics, Depression (economics)

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