Stock Volatility and the Great Depression
Stock return volatility during the Great Depression has been labeled a "volatility puzzle" because the standard deviation of stock returns was 2 to 3 times higher than any other period in American history. We investigate this puzzle using a new series of building permits and leverage. Our...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Oxford University Press
2019
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| Online Access: | View Fulltext in Publisher |