This short paper shows how excess global saving led to asset price inflation in U.S. stocks during 1981 to 2019. It compares stock PE ratios to corporate bond values to explain that investor exuberance for stocks enabled and enhanced the extent of the secular stock rise

Based theoretically and empirically on the international transmission and spill-over, this study is set up to examine how returns on three groups (developed, emerging and frontier) of global stock markets respond to the U.S. credit spread shock. The Granger-causality is computed to determine the...

"This book tells the story of a record day on Wall Street in mid-1982, the only time in post-war history when a private individual caused a bull market of such magnitude, exploring the global press reaction that followed, the backstory of Henry Kaufman's influence, and the lessons of that...