World War II as reflected on capital markets

World War II as reflected on capital markets

Historical events are reflected in asset prices. We analyze government bond prices of five European countries traded on the Swiss bourse during WWII. Apart from the official outbreak of WWII, loss and gain of national sovereignty influenced the capital market.

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Bibliographische Detailangaben
Veröffentlicht in:Economics letters 2000-11, Vol.69 (2), p.187-191
Hauptverfasser: Frey, Bruno S., Kucher, Marcel
Format: Artikel
Sprache:eng
Schlagworte:
Asset valuation
Bond market
Capital market
Cliometrics
Economic history
Europe
Financial history
Financial markets
Sovereignty
World War Two
WWII
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Beschreibung
Zusammenfassung:Historical events are reflected in asset prices. We analyze government bond prices of five European countries traded on the Swiss bourse during WWII. Apart from the official outbreak of WWII, loss and gain of national sovereignty influenced the capital market.
ISSN:0165-1765
1873-7374
DOI:10.1016/S0165-1765(00)00269-X