Throughout the 1920s, prices on the U.S. stock exchange rose exponentially, however, by the end of the decade, uncontrolled growth and a stock market propped up by speculation and borrowed money proved unsustainable, resulting in the Wall Street Crash of October 1929. This set a chain of events in motion that led to economic collapse - banks demanded repayment of debts, the property market crashed, and people stopped spending as unemployment rose. Within a year the country was in the midst of an economic depression, and the economy continued on a downward trend until late-1932.

It was during this time where Franklin D. Roosevelt (FDR) was elected president, and he assumed office in March 1933 - through a series of economic reforms and New Deal policies, the economy began to recover. Stock prices fluctuated at more sustainable levels over the next decades, and developments were in line with overall economic development, rather than the uncontrolled growth seen in the 1920s. Overall, it took over 25 years for the Dow Jones value to reach its pre-Crash peak.

Graph and download economic data for Dow-Jones Industrial Stock Price Index for United States (M1109BUSM293NNBR) from Dec 1914 to Dec 1968 about stock market, industry, price index, indexes, price, and USA.

The Dow Jones Industrial Average (DJIA) is a stock market index used to analyze trends in the stock market. While many economists prefer to use other, market-weighted indices (the DJIA is price-weighted) as they are perceived to be more representative of the overall market, the Dow Jones remains one of the most commonly-used indices today, and its longevity allows for historical events and long-term trends to be analyzed over extended periods of time. Average changes in yearly closing prices, for example, shows how markets developed year on year. Figures were more sporadic in early years, but the impact of major events can be observed throughout. For example, the occasions where a decrease of more than 25 percent was observed each coincided with a major recession; these include the Post-WWI Recession in 1920, the Great Depression in 1929, the Recession of 1937-38, the 1973-75 Recession, and the Great Recession in 2008.

View data of the S&P 500, an index of the stocks of 500 leading companies in the US economy, which provides a gauge of the U.S. equity market.

The statistic shows the worst days of the Dow Jones Industrial Average index from 1897 to 2024. The worst day in the history of the index was ****************, when the index value decreased by ***** percent. The largest single day loss in points was on ***********.

Graph and download economic data for Index of Stock Prices for Germany (M1123ADEM324NNBR) from Jan 1870 to Dec 1913 about stock market, Germany, and indexes.

This project studies equity returns in the Madrid Stock Exchange and their connections with the macroeconomy from the emergence of a stock market around 1900 to its “big bang” at the turn of the 21st century. Using high-quality data from primary sources and the methodology of the modern IBEX35 (published since 1987), we constructed an original index, the H-IBEX, for the period 1900-1987. With 120 years of monthly data, we empirically test the ability of stock prices to predict real economic activity, provide a detailed chronology of market cycles and analyze their time-varying characteristics across stages of market development and macroeconomic regimes. We also assess the role of Spanish equities as an inflation hedge and compare their long-run investment performance in an international perspective. Our data confirm that the Civil War (1936-39) had only a moderately negative impact on equity wealth compared to other economic disasters of the 20th century. In the long run Spanish equities underperformed most European markets due to a massive destruction of financial wealth in the stagflation of the 1970s-80 and the transition to an open economy after decades of protectionism. This was the true “rare disaster” suffered by Spanish investors in the 20th century.

We investigate the effects of  financial risk cycles on business cycles, using a panel spanning 73 countries since 1900. Agents use a Bayesian learning model to form their beliefs on risk. We construct a proxy of these beliefs and show that perceived low risk encourages risk-taking, augmenting growth at the cost of accumulating  financial vulnerabilities, and therefore, a reversal in growth follows. The reversal is particularly pronounced when the low-risk environment persists and credit growth is excessive. Global-risk cycles have a stronger effect on growth than local-risk cycles via their impact on capital flows, investment, and debt-issuer quality.

The Long Depression was, by a large margin, the longest-lasting recession in U.S. history. It began in the U.S. with the Panic of 1873, and lasted for over five years. This depression was the largest in a series of recessions at the turn of the 20th century, which proved to be a period of overall stagnation as the U.S. financial markets failed to keep pace with industrialization and changes in monetary policy. Great Depression The Great Depression, however, is widely considered to have been the most severe recession in U.S. history. Following the Wall Street Crash in 1929, the country's economy collapsed, wages fell and a quarter of the workforce was unemployed. It would take almost four years for recovery to begin. Additionally, U.S. expansion and integration in international markets allowed the depression to become a global event, which became a major catalyst in the build up to the Second World War. Decreasing severity When comparing recessions before and after the Great Depression, they have generally become shorter and less frequent over time. Only three recessions in the latter period have lasted more than one year. Additionally, while there were 12 recessions between 1880 and 1920, there were only six recessions between 1980 and 2020. The most severe recession in recent years was the financial crisis of 2007 (known as the Great Recession), where irresponsible lending policies and lack of government regulation allowed for a property bubble to develop and become detached from the economy over time, this eventually became untenable and the bubble burst. Although the causes of both the Great Depression and Great Recession were similar in many aspects, economists have been able to use historical evidence to try and predict, prevent, or limit the impact of future recessions.

Replication data for manuscript "The Historical and Expected Equity Risk Premium in Spain: A Long-Run View, 1900-2020". We present revised estimates of the historical (ex post) equity risk premium and an original estimate of the expected (ex ante) premium for the Madrid stock market over a period of 120 years. The results are based on a new equity index, the H-IBEX (1900-1987), built on high-quality monthly data hand-collected from primary sources and methodologically aligned with the modern Spanish index, IBEX35. We also reconstructed an original weighted index of government bonds (1900-1987) which can be smoothly connected with recent data. Data include original series for equities, bonds and bills for the Madrid Stock Exchange from 1900 to 1987, at monthly and annual frequency, spliced with more recent data on equities (IBEX35) and bonds, to cover the period until 2020. Documentation includes three Excel files (monthly series, annual series and summary of annual data) and one Eviews13 file with main regressions.

We study the long-run return on equities in the Madrid Stock Exchange from the early emergence of a stock market around 1900 to its “big bang” at the end of the 20th century. Using high-quality data from primary sources, we constructed an original monthly capital-weighted index, the H-IBEX, based on the same methodology of the modern IBEX35. Our historical index provides for the first time an accurate measure of the impact of the Spanish civil war on equity wealth. We also document the time-varying characteristics of market cycles and the magnitude, frequency and determinants of extreme events. Our index suggests that in the long run Spanish equities underperformed relative to global and European benchmarks in real terms, primarily due to persistent macroeconomic instability from the 1940s to the 1980s and a massive destruction of financial wealth in the transition from a closed to an open economy after the fall of the Francoist regime. For almost half century the Spanish equity market was virtually barred to foreign investors and offered limited attractiveness due to high exchange rate risk. After the macroeconomic stabilization and the stock exchange reforms of the late 1980s, Spanish equities offered high expected returns due to their high exposure to global factors, but yielded lower risk-adjusted returns and provided limited benefits of diversification due to their fast-rising correlation with foreign markets.

The study’s subject The author’s aim is to describe the functional changes of German capital markets and stock exchanges. First he describes characteristics of German capital markets as a place of balancing supply and demand. Then, further submarkets are analyzed in their function (for example the meaning of credit transactions and interest rates for investment activities of the economy, or by means of fixed interest securities and equity securities documented capital procurement). Starting point of the investigation is the period until 1924, a period without regulation activities of the state on the capital trade. This period was followed by increased requirements on capital due to the first World War and the inflation. The description closed with the consequences of political influence on processes of capital markets.The author tries to show the rise of the German capital market, it’s functionality and the restriction as an effect of the first World War (the state’s extremely high need for money), and the following hyperinflation using long time series data. The data deals with following subjects: Datatables in HISTAT (Topic: Money and Currency = Geld): A.01 Average Price Level of Fixed Rated Bond Issues (Durchschnittlicher Kursstand festverzinslicher Anleihen) A.02 German Financial Assets from 1893 to 1913 (Das deutsche Geldvermögen zwischen 1893 und 1913) A.03 Foundation of Stock Corporations between 1870 and 1928 (Gründung von Aktiengesellschaften zwischen 1870 und 1928) A.04 Branches of German Major Banks between 1900 and 1918 (Niederlassungen der deutschen Großbanken in Deutschland zwischen 1900 und 1918) A.05 Deposits stock of German Banks in Mill. Mark between 1872 and 1910 (Depositenbestand der D-Banken in Mill. Mark zwischen 1872 und 1910) A.06 Importance of the Banks for financing investments: by capital issue raised capital sum between 1889 and 1904 (Bedeutung der Banken für die Investitionsfinanzierung: durch Emissionen aufgebrachte Kapitalsummen von 1889 bis 1904) A.07 Bank rate of the German Reichsbank between 1924 and 1930 (Der Diskontsatz der Deutschen Reichsbank (Jahresdurchschnitt) zwischen 1924 und 1930) A.08 Capital Market Interest for Fixed Rate Issues in Germany, United States, Switzerland and The Netherlands in 1925 and between 1928 and 1930 (Der Kapitalmarktzins für festverzinsliche Wertpapiere in Deutschland, USA, Schweiz und Holland für 1925, 1928 und 1930) A.09 Development of Savings and Deposits of German Savings Banks in Mill. Mark between 1924 and 1933 (Entwicklung der Spar- und Geldeinlagen der deutschen Sparkassen in Mill. Mark zwischen 1924 und 1933) A.10 Development of Savings and Deposits in German Savings Banks between 1933 and 1937(Entwicklung der Spareinlagen bei den deutschen Sparkassen zwischen 1933 bis 1937) A.11 Depts of Communities and associations of local authorities, 1928 – 1930 (Die Schulden der Gemeinden und der Gemeinde-Verbände, 1928-1930) A.12 Capital Assets of Insurances in Mill. Reichsmark between 1932 and 1936 (Die Kapitalanlage der Versicherungen in Mill. Reichsmark zwischen 1932 und 1936) A.13 Number of dealt Papers on the Berlin Stock Market and the Papers‘ Prices between 1931 and 1935 (Zahl der an der Berliner Börse gehandelten Papiere, Kurse und Dividenden der gehandelten Papiere zwischen 1931 und 1935)

On October 29, 1929, the U.S. experienced the most devastating stock market crash in it's history. The Wall Street Crash of 1929 set in motion the Great Depression, which lasted for twelve years and affected virtually all industrialized countries. In the United States, GDP fell to it's lowest recorded level of just 57 billion U.S dollars in 1933, before rising again shortly before the Second World War. After the war, GDP fluctuated, but it increased gradually until the Great Recession in 2008. Real GDP Real GDP allows us to compare GDP over time, by adjusting all figures for inflation. In this case, all numbers have been adjusted to the value of the US dollar in FY2012. While GDP rose every year between 1946 and 2008, when this is adjusted for inflation it can see that the real GDP dropped at least once in every decade except the 1960s and 2010s. The Great Recession Apart from the Great Depression, and immediately after WWII, there have been two times where both GDP and real GDP dropped together. The first was during the Great Recession, which lasted from December 2007 until June 2009 in the US, although its impact was felt for years after this. After the collapse of the financial sector in the US, the government famously bailed out some of the country's largest banking and lending institutions. Since recovery began in late 2009, US GDP has grown year-on-year, and reached 21.4 trillion dollars in 2019. The coronavirus pandemic and the associated lockdowns then saw GDP fall again, for the first time in a decade. As economic recovery from the pandemic has been compounded by supply chain issues, inflation, and rising global geopolitical instability, it remains to be seen what the future holds for the U.S. economy.

Between 2007 and 2024, the number of companies listed on the London Stock Exchange (LSE) decreased significantly. As of the fourth quarter of 2024, ***** companies were listed on the LSE, a decrease of ** companies compared to the previous quarter.

FirmAI

Industry Machine Learning: https://github.com/firmai/industry-machine-learning

Link-letter

Linkletter: https://mailchi.mp/a0e3989a5dc4/firmaikaggle

Three highlights of the database include:

1. Foreign net purchases of long-term securities beginning in 1936
2. Capital market issuance (Equities, Corporate bonds, Treasuries, State and Local bonds, Agency MBS) beginning in 1900
3. Primary Dealer net positioning, financing and transactions beginning in 1960

Other capital markets series include:

1. Federal Reserve holdings of Treasuries by maturity bucket and class beginning in 1919
2. US Government debt and corporate bonds outstanding since 1900
3. Excess Treasury returns since 1929

Data Descriptions

One: https://github.com/firmai/random-assets/blob/master/2636e1a0-27b0-4ec5-b8da-22902e9b333a.pdf

Two: https://github.com/firmai/random-assets/blob/master/CMDchartpack.pdf

Stock Price Time Series for Leeds Group PLC. Leeds Group plc engages in the property investment activities in the United Kingdom. The company was incorporated in 1900 and is based in Leeds, the United Kingdom.

Change-In-Cash Time Series for Weyerhaeuser Company. Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, and energy and natural resources, among others. In 2024, the company generated $7.1 billion in net sales and employed approximately 9,400 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser's common stock trades on the New York Stock Exchange under the symbol WY.

The Spanish tissue paper market amounted to $1.2B in 2024, growing by 1.6% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $1.3B. From 2023 to 2024, the growth of the market failed to regain momentum.

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities. This segment provides ratings in approximately 140 countries. Its ratings are disseminated through press releases to the public through electronic media, including the internet and real-time information systems used by securities traders and investors. This segment has rated approximately 5,000 non-financial corporates; 3,600 financial institutions; 16,000 public finance issuers; 145 sovereigns; 47 supranational institutions; 459 sub-sovereigns; and 1,000 infrastructure and project finance issuers, as well as 9,100 structured finance deals. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets; and offers subscription based research, data, and analytical products comprising credit ratings, credit research, quantitative credit scores and other analytical tools, economic research and forecasts, business intelligence and company information products, commercial real estate data and analytical tools, and on-line and classroom-based training services, as well as credentialing and certification services. It also offers offshore analytical and research services with learning solutions and certification programs; and software solutions, as well as related risk management services. The company was formerly known as Dun and Bradstreet Company and changed its name to Moody's Corporation in September 2000. Moody's Corporation was founded in 1900 and is headquartered in New York, New York.

Total-Stockholder-Equity Time Series for Moodys Corporation. Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets. It offers credit research, credit models and analytics, economics data and models, and structured finance solutions; data sets on companies and securities; and SaaS solutions supporting banking, insurance, and know your customer workflows. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as structured finance securities. The company was formerly known as Dun and Bradstreet Company and changed its name to Moody's Corporation in September 2000. The company was founded in 1900 and is headquartered in New York, New York.