Part one of term paper
The October 1987 collapse in stock prices conjured visions of 1929 and the Great Depression. Focus on this period is natural because the 32 percent decline in stock values between the market closes of October 13 and 19, 1987, was of the magnitude of--indeed, it actually exceeded--the October 1929 debacle. Focus on this period is also appropri ...

Part two of term paper
... was severe and extended; from their peak in September 1929, stock prices declined by 87 percent to their trough in 1932. The performance of the economy over this period was equally disheartening. Real economic activity declined by about one-third between 1929 and 1933; unemployment climbed to 25 percent of the labor force; prices in the aggregate dropped by more than 25 percent; the money supply contracted by over 30 percent; and close to 10,000 banks suspended operations. Given this performan ...