This is has been an article of faith long and extensively remarked on over many cycles: tech crashes of 83, 01, etc and financial recessions and shocks like 87,

This is has been an article of faith long and extensively remarked on over many cycles: tech crashes of 83, 01, etc and financial recessions and shocks like 87, 90, 01, 07). Their list of references seem to show that this specific question hasn't been rigorously examined though, which is somewhat surprising. Those references also show that the data are available so it's it's a shame the authors only looked at 07/08. Looks like the first author worked on this while a grad student. Perhaps they will expand it into a book.