Advanced Search
MyIDEAS: Login to save this article or follow this journal

Beeinflusst Krieg die Finanzmärkte? Eine Entgegnung auf die Kommentare von Jean-Christian Lambelet


Author Info

  • Marcel Kucher
  • Bruno S. Frey


The 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 Info

If 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.
File URL:
Download Restriction: no

Bibliographic Info

Article 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)
Pages: 221-227

as in new window
Handle: RePEc:ses:arsjes:1999-ii-6

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:
More information through EDIRC

Related research



No references listed on IDEAS
You can help add them by filling out this form.



This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:ses:arsjes:1999-ii-6. See general 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 you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.