Oosterlinck, Kim; Van Gansbeke, Marie - In: Expectations : theory and applications from historical …, (pp. 147-167). 2020
When a conflict breaks out, warring states' bond prices generally experience sharp declines. As military defeat may prompt the winner to ask for reparations, bonds issued by the losing party are usually even more affected. By contrast, during the Second Anglo-Boer War (1899-1902), the prices of...
