Why the Bubble Burst: US Stock Market Performance Since 1982 (New Directions in Modern Economics)

Providing a comprehensive look at the most dramatic run-up in equity values in US history, this volume takes the reader from theory to empirics, illustrating why we need to go beyond the efficient markets hypothesis and the theory of domestic irrational exuberance to fully unpack the unprecedented phenomenon, why the market was destined for a major decline and why the fallout will be severe and protracted.