Showing 1 – 3 of 3 results.
Curated
New York Times Stock Market Crash Survey, October-November 1987 (ICPSR 9215)
Released/updated on: 2009-02-17
Geographic coverage: United States
Time period: 1987-10-29--1987-11-03
This survey measures the public's attitudes towards political issues and the stock market crash of October 1987. Questions asked of respondents include whether the recent stock market crash would lead to a recession, how they would assess the condition of the national economy, whether the respondent would vote for the Democratic or the Republican candidate in the 1988 presidential election, and whether the respondent owned stock or shares in a mutual fund that invested in the stock market. Background information on individuals includes party affiliation, age, income, sex, marital status, education, and race.
Curated
ABC News/Washington Post Persian Gulf/Stock Drop Poll, October 1987 (ICPSR 8889)
Released/updated on: 2008-07-24
Geographic coverage: United States
Time period: 1987-10-01--1987-10-31
The United States' military presence in the Persian Gulf and the sharp drop in stock market prices in mid-October 1987 were the central topics of this poll. Respondents' opinions were sought on the presence of American military forces in the Gulf and its possible ramifications, Reagan's handling of the situation, United States Naval forces escorting Kuwaiti oil tankers, and the United States attack on an Iranian oil platform on the morning of October 19, 1987. With regard to the drop in stock prices, respondents were asked if it had affected them personally, if it signalled a downturn in the nation's economy and the possibility of a Depression like that of the 1930s, if they owned stocks, and if they were planning to sell because of the decline. Demographic data on respondents are included.
Curated
Crash of '87: Was It Expected? The Evidence from Options Markets (ICPSR 1187)
Released/updated on: 1999-04-30
Geographic coverage: United States
Time period: 1985-01-01--1987-12-31
Efforts to explain why stock markets worldwide crashed in October 1987 have been frustrated by the scarcity of major economic developments occurring around that time that could have precipitated the crashes. It is conceivable that the United States stock market crashed because it was expected to crash. To test this hypothesis, transaction prices of Standard and Poor's 500 futures options over the 1985-1987 period were examined for evidence prior to October 1987 of expectations of an impending crash. It was found that out-of-the-money puts became unusually expensive during the year leading up to the crash. A model was therefore derived for pricing American options on jump-diffusion processes with systematic jump risk. The jump-diffusion parameters implicit in option prices indicate that a crash was expected and that implicit distributions were negatively skewed for the October 1986-August 1987 period. Neither approach, however, points to any strong crash fears in the two months prior to the crash.