Why the Bubble Burst

"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." "The author's conclusions carry implications for economic theory and policy, retirement security and stock market investments in general. Economists, finance professionals and policymakers will find this volume a unique investigation into the stock market boom and bust."--BOOK JACKET.