presence of rational bubbles by employing several tests on a large dataset that includes three bubble episodes. We also convert … exhibit bubbles in all markets while the sup augmented Dickey-Fuller test suggests Hong Kong, Japan, and Thailand exhibit an … explosive process. The cointegration tests show that Hong Kong, Japan, Malaysia, and Thailand may have bubbles while the …

the dot-com peak 20 years ago. In both instances, a very broad subset of stocks became so highly valued that speculation …, drawn from a book in progress, examines the history of stock markets for comparable pure price-chasing bubbles, finding nine … way down - of these greatest asset bubbles in human history. When one applies this framework to the current US stock …