Beeinflusst Krieg die Finanzmärkte? Eine Entgegnung auf die Kommentare von Jean-Christian Lambelet
AbstractThe econometric analysis of government bonds prices reveals new historical insights and can therefore support the research activities of historians. In his comments on our article "Krieg und Finanzmarkt", which deals with this topic, JEAN-CHRISTIAN LAMBELET raises many important points. Our reply adopts and discusses some of these points critically. Our main focus, however, is JEAN-CHRISTIAN LAMBELET's criticism that common threats cannot be traced with our methodology. Therefore, we present new econometric estimations, which analyze the threats common to all bonds traded in Switzerland. Important historical events that constitute common threats are e. g. the beginning of World War II, the war entry of the United States or the Russian offensive at Stalingrad. On the other hand, the perceived common risk decreased due to the invasion of the Allied forces in the Normandy or the German capitulation in 1945. Under these altered specifications, too, the analysis of financial markets can offer non-trivial insights concerning historical events.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.
Volume (Year): 135 (1999)
Issue (Month): II (June)
Contact details of provider:
Postal: c/o SNB/BNS, Börsenstrasse 15, PO Box 2800, CH-8022 Zürich
Phone: +41 (0)44 631 32 34
Fax: +41 (0)44 631 39 01
Web page: http://www.sjes.ch
More information through EDIRC
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Steiner).
If references are entirely missing, you can add them using this form.