, asset markets have exhibited high levels of volatility with sharp increases characteristic of speculative bubbles followed … by even sharper crashes. This paper attempts to test the possible presence of nonlinear speculative bubbles in 23 … results indicate the presence of speculative bubbles in all 23 of these markets with increasing incidence over time, which …

inevitable, by contemporary economic theory, yet its core tenets remain unchanged today. In response, the authors show how …