The spectre of terrorism and the stock market

Terrorism is a major issue in the 21st century. In this paper we examine the effect of terrorism on the stock market. We go beyond previous studies to explore the spectre of terrorism on the market rather than terrorist activities. Using a narrative-based approach à la Shiller (2019), we find that the spectre of terrorism during the Northern Ireland Troubles reduced returns and increased volatility on the UK stock market.

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Year of publication:	2022
Authors:	Hanna, Alan J. ; Turner, John D. ; Walker, Clive B.
Publisher:	Belfast : Queen's University Centre for Economic History (QUCEH)
Subject:	terrorism \| stock market \| returns \| volatility \| narratives

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Series:	QUCEH Working Paper Series ; 22-10
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1821150295 [GVK] hdl:10419/266237 [Handle] RePEc:zbw:qucehw:202210 [RePEc]
Classification:	C00 - Mathematical and Quantitative Methods. General ; E44 - Financial Markets and the Macroeconomy ; G12 - Asset Pricing ; g40 ; N24 - Europe: 1913-
Source:	EconStor

Persistent link: https://www.econbiz.de/10013440267