This article looks at the effects of office mechanisation in greater detail by describing data processing innovations in major building societies during the dawn of the computer era. Reference to similar developments in clearing banks, industrial and computer organisations provides evidence as...

This paper uses long-run real price and dividends series to investigate for the German stock market the questions asked of the U.S. market by Shiller (1989). It tries to determine in what periods and to what degree the Germanstock market has also possessed "excess volatility" over the past...