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**Thus the existence of bubbles would not only account for occasional asset price crashes but also rapid run-ups in asset prices before a crash. The question we address is whether or not stock market crashes and the booms that precede them are related to apparent deviations …
*Stock market crashes and dynamics of aftershocks, P Kapopoulos, F Siokis - Economics Letters, 2005 - Elsevier [https://www.researchgate.net/profile/Panayotis_Kapopoulos2/publication/236983927_Stock_market_crashes_and_dynamics_of_aftershocks/links/5f0c602e299bf1074452e322/Stock-market-crashes-and-dynamics-of-aftershocks.pdf]
**We begin with the intuitive observation that short-term business-as-usual process and bubble rising looks like an accelerated energy before an earthquake. In such a framework, the aftershocks resemble the correction process of the stock market. We investigate the statistical properties of stock returns in the financial markets just after a major market crash. It is found that the aftershocks obey the well-known Gutenberg–Richter simple rule in geophysics. Our empirical observations show that the statistical properties of aftershocks sequences in the crashes of late '90s and early '00s are essentially different from the ones observed a decade earlier.
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