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Crashes, measured as strong price decreases, are sometimes difficult to reconcile with historical events. This can be explained because a similar price variation will have a greater negative impact in a stable financial context than during a highly volatile period. For example, French stocks...
Persistent link: https://www.econbiz.de/10012706670
This paper undertakes a comparative study of the effects of three wars upon the French stock market. Periods of war are … suggesting that stock price behaviour is influenced by the specific way each war is financed. Financed solely by regular long …-term debt, the Franco-Prussian war exhibited stock prices that only reflected real activity. On the other hand, both World Wars …
Persistent link: https://www.econbiz.de/10012712507
This article investigates the effects of governmental activity (turnover and color) on stock returns in France which suffered 150 different governments between 1871 and 2008. An appointment ends an uncertainty: when a government is appointed the average monthly stock price return is three times...
Persistent link: https://www.econbiz.de/10013038009
As countries of the world used large amounts of public funds to manage the 2008 financial crisis, public debt has risen to a critical level in many of them. Due to the drop in real economy, several countries faced unemployment and economic fallback that are still unresolved to this day. After...
Persistent link: https://www.econbiz.de/10011251915
The objective of this paper is to examine the absolute and risk-adjusted effects on distribution rates and total wealth created by adding loss-limiting trend following strategies to buy and hold portfolios. Using 150 years of equity and bond data, we found that applying trend following to...
Persistent link: https://www.econbiz.de/10012965161
which were among the worlds’ most developed up to World War One and again weight substantially in today’s global portfolio …
Persistent link: https://www.econbiz.de/10005111534
Stock market crashes are crucial as a large part of the final value of any stock market index is realized during these extreme events. But, the same price variation in percentage does not have the same impact in a stable financial environment as in a highly volatile period. To identify crashes...
Persistent link: https://www.econbiz.de/10008602695
the Swiss stock exchange during WWII provides a useful way of interpreting the importance attributed to various war events … countries considered. This holds, in particular, for the official outbreak of the war in July to September 1939 (which sent down …
Persistent link: https://www.econbiz.de/10005627815
before the First World War, it shows a continuous increase during the inter-war period. Despite peace and economic stability …
Persistent link: https://www.econbiz.de/10011025488
We collect more than eight million German-language tweets on the war in Ukraine and use a machine learning approach … toconstruct a daily index of uncertainty about the war. In an empirical model, we show that fluctuations in uncertainty have …
Persistent link: https://www.econbiz.de/10014322511