Stock Market Policy Since the 1987 Crash

Stock Market Policy Since the 1987 Crash

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Since the US stock market crashed on October 19, 1987, many studies have been conducted to learn from this experience in the hopes of avoiding a similarly adverse future fall. The book, originally published as a special issue of the Journal of Financial Services Research, considers some of the important policy adjustments that have been implemented in the wake of the 1987 crash. Taken separately and together, these five papers offer a synthesis and summary of the most important policy innovations that have evolved since the largest single-day decline in stock market history.Indeed, the margin recommendations of three of the major postcrash studies are premised on the hypothesis that leverage enables ... The evidence to date suggests that, contrary to the leverage arguments advanced by the pyramiding- depyramiding hypothesis and ... studies of the 1987 stock market crash, little or no empirical evidence supports the hypothesis that tightening leverage constraints in eitheranbsp;...

Title:Stock Market Policy Since the 1987 Crash
Author:Hans R. Stoll
Publisher:Springer Science & Business Media - 2012-12-06


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