| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3251 |
| DP3251 Suspense | |
| Pascal Courty; Hao Li; William Chan | |
| 发表日期 | 2002-03-22 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The extreme levels of stock price volatility found during the Great Depression have often been attributed to political uncertainty. This Paper performs an explicit test of the Merton/Schwert hypothesis that doubts about the survival of the capitalist system were partly responsible. It does so by using a panel data set on political unrest, demonstrations and other indicators of instability in a set of 10 developed countries during the interwar period. Fear of worker militancy and a possible revolution can explain a substantial part of the increase in stock market volatility during the Great Depression. |
| 主题 | International Macroeconomics |
| 关键词 | Stock price volatility Political uncertainty Worker militancy Great depression |
| URL | https://cepr.org/publications/dp3251 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532316 |
| 推荐引用方式 GB/T 7714 | Pascal Courty,Hao Li,William Chan. DP3251 Suspense. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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