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Why The Bubble Burst |
Lawrance L. Evans Jr., Economist, Applied Research and Methods Group, US General Accounting Office
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| 2003 |
256 pp |
Hardback |
978 1 84376 075 7 |
£69.95 |
on-line discount
£62.96 |
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‘Lawrance Evans’s Why the Bubble Burst will stand as one of the most incisive and important accounts of the stock market’s performance over the last two decades. Offering a broad and coherent evaluation of the major explanations for movements in equity prices, it also provides a remarkably rich empirical analysis that reveals the insufficiencies of these theoretical approaches and affirms the central role of supply and demand in fueling the boom in stocks. Practitioners as well as academics will find information about changes in institutions and portfolios that is both fascinating and supportive of the discussions of market developments.’
– Jane D’Arista, Financial Markets Center, Philomont, US
‘Lawrance Evans combines lucidity, quantitative rigor, and theoretical originality to explain one of the most pressing and contentious economic questions of our time. Why the Bubble Burst could not be more timely.’
– Robert Pollin, University of Massachusetts, Amherst, US
Why the Bubble Burst provides a comprehensive look at the most dramatic run-up in equity values in US history. Lawrance Evans 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.
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Contents: 1. Towards an Understanding of the Stock Market Bubble 2. Competing Theories of Stock Price Behavior 3. Empirical Approaches to Stock Values 4. Theoretical Approaches to the Stock Market Boom 5. Empirical Analysis I: The Stylized Facts 6. Empirical Analysis II: Formal Econometrics 7. Boom, Bubble and Burst Bibliography Index
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This book is part of the New Directions in Modern Economics series. To view the rest of the series, please use the link.
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