Market microstructure and Nazi influence on the Paris stock exchange during WWII
AbstractAlthough studies of the Paris stock exchange are quite numerous, its functioning during the Second World War has been overlooked. Based on archives from both the French brokers (Compagnie des Agents de Change) and from the occupying forces, this paper describes the market microstructure, the changes in market organization and the manipulations of the stock prices by the Nazis. Furthermore, the paper shows that, for economic reasons, some measures imposed by the Nazis were kept after the war. It suggests, moreover, that long-term analysis based on indices that include the war years could be misleading because most stocks could not be bought or sold, even though they were quoted at the time.
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Bibliographic InfoPaper provided by ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 04-026.RS.
Length: 24 p.
Date of creation: Nov 2004
Date of revision:
Publication status: Published by: Centre Emile Bernheim, Bruxelles
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More information through EDIRC
microstructure; WWII; Paris Stock Exchange;
Find related papers by JEL classification:
- N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-02-05 (All new papers)
- NEP-FIN-2006-02-05 (Finance)
- NEP-HIS-2006-02-05 (Business, Economic & Financial History)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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