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"Meteor showers" and "heat waves" in Greek financial markets

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  • Nicholas Apergis
  • Costas Katrakilidis
  • Stamatis Papastamatis

Abstract

This paper examines the presence of "meteor showers" and "heat waves" effects in Greek financial markets. In particular, the relationship between the stock market price index volatility and the volatility of three exchange rates (U.S. dollar, deutsche mark, and ECU) recorded on a daily basis is investigated. The results provide evidence in favor of the "heat wave" hypothesis, while the "meteor shower" hypothesis was observed only with respect to the U.S. dollar. Copyright International Atlantic Economic Society 1997

Suggested Citation

  • Nicholas Apergis & Costas Katrakilidis & Stamatis Papastamatis, 1997. ""Meteor showers" and "heat waves" in Greek financial markets," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 3(4), pages 364-375, November.
    • Handle: RePEc:kap:iaecre:v:3:y:1997:i:4:p:364-375:10.1007/bf02295214
    DOI: 10.1007/BF02295214
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    References listed on IDEAS

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