Year: 2000
Type: article
Abstract: Historical events are reflected in asset prices. We analyze movements in the price of bonds issued by five European governments and traded on the Swiss bourse between 1928 and 1948, with special attention to the war years. 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 changes in national sovereignty. But other events to which historians attach great importance are not reflected in bond prices, most prominently Germany's capitulation in 1945.
Source: The Journal of Economic History
Authors: Bruno S. Frey, Marcel Kucher
Institution: University of Zurich
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W3122155689