Kollias, Christos; Kyrtsou, Catherine; Papadamou, Stephanos - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
This paper, investigates the effect war and terrorism, have on the covariance between oil prices and the indices of … models. Findings reported herein indicate that the covariance between stock and oil returns is affected by war. A tentative … effects. On the other hand, in the case of terrorist incidents that, vis-à-vis war, are of a more transitory nature and one …