A speedboat full of explosives crashes into an Indian oil platform located 160 kilometers off the coast of Mumbai, causing an immense explosion.1 As a result, fifteen crewmembers are killed, hundreds of millions of dollars of damage is inflicted, and India is left without a vital source of energy. Additionally, the explosion causes a massive oil leak with the attendant catastrophic ecological e...

We investigate the behaviour of a range of economic time series using a Bayesian Markov Switching model that allows for explosive regimes and alternative levels of error variance with potentially t-distributed errors. Our results, generated by Bayesian Model Averaging, find explosive root regimes only in a minority of data series that have previously been found to contain bubbles, once regime s...