Arbeitspapier
Wars and Markets: How Bond Values Reflect World War II
Historical events are reflected in asset prices. In this paper, we analyse government bond prices of Germany and Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in government bond prices. This holds, in particular, for the official outbreak of the war and the loss and gain of national sovereignty. Other events to which historians attach great importance are not reflected in bond prices: The most prominent example is Germany's capitulation in 1945. The analysis of financial markets provides a fruitful method to evaluate the importance contemporaries attached to historical events.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 221
- Classification
-
Wirtschaft
- Subject
-
Financial markets
economic history
WWII
Europe
cliometrics
- Event
-
Geistige Schöpfung
- (who)
-
Frey, Bruno S.
Kucher, Marcel
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
1999
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Frey, Bruno S.
- Kucher, Marcel
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 1999
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