With a Bang, Not a Whimper: Pricking Germany's "Stock Market Bubble" in 1927 and the Slide into Depression

Hans-Joachim Voth

doi:10.1017/S0022050703001736

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With a Bang, Not a Whimper: Pricking Germany's "Stock Market Bubble" in 1927 and the Slide into Depression

Hans-Joachim Voth

Journal of Economic History 63(1), pp. 65-99 (2003)

Published version

Abstract

In May 1927, the German central bank intervened indirectly to reduce lending to equity investors. The crash that followed ended the only stock market boom during Germany's relative stabilization 1924-28.

Keywords: stock market bubble, central banking, Weimar Germany, Great Depression, financial history
DOI: 10.1017/S0022050703001736
Canonical: https://www.jvoth.com/papers/with-a-bang-not-a-whimper.html

Hans-Joachim Voth (2003). “With a Bang, Not a Whimper: Pricking Germany's "Stock Market Bubble" in 1927 and the Slide into Depression.” Journal of Economic History.