Democratic processes and financial markets: pricing politics
The authors examine the conditions under which democratic events, including elections, cabinet formations, and government dissolutions, affect asset markets. Where these events have less predictable outcomes, market returns are depressed and volatility increases. In contrast, where market actors can...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge University Press
2006
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| Schlagworte: | |
| Online-Zugang: | BSB01 UBG01 Volltext |
| Zusammenfassung: | The authors examine the conditions under which democratic events, including elections, cabinet formations, and government dissolutions, affect asset markets. Where these events have less predictable outcomes, market returns are depressed and volatility increases. In contrast, where market actors can forecast the result, returns do not exhibit any unusual behavior. Further, political expectations condition how markets respond to the political process. When news causes market actors to update their political beliefs, market actors reallocate their portfolios, and overall market behavior changes. To measure political information, Professors Bernhard and Leblang employ sophisticated models of the political process. They draw on a variety of models of market behavior, including the efficient markets hypothesis, capital asset pricing model, and arbitrage pricing theory, to trace the impact of political events on currency, stock, and bond markets. The analysis will appeal to academics, graduate students, and advanced undergraduates across political science, economics, and finance |
| Beschreibung: | Title from publisher's bibliographic system (viewed on 05 Oct 2015) |
| Beschreibung: | 1 online resource (xi, 260 pages) |
| ISBN: | 9780511607226 |
| DOI: | 10.1017/CBO9780511607226 |
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| 505 | 8 | |a Introduction -- Democratic processes and political risk : evidence from foreign exchange markets -- When markets party : stocks, bonds, and cabinet formations -- The cross-national financial consequences of political predictability -- Cabinet dissolutions and interest rate behavior -- Bargaining and bonds : the process of coalition formation and the market for government debt in Austria and New Zealand -- Time, shares, and Florida : the 2000 presidential election and stock market volatility -- Polls and pounds : exchange rate behavior and public opinion in Britain -- Conclusion : political predictability and financial market behavior | |
| 520 | |a The authors examine the conditions under which democratic events, including elections, cabinet formations, and government dissolutions, affect asset markets. Where these events have less predictable outcomes, market returns are depressed and volatility increases. In contrast, where market actors can forecast the result, returns do not exhibit any unusual behavior. Further, political expectations condition how markets respond to the political process. When news causes market actors to update their political beliefs, market actors reallocate their portfolios, and overall market behavior changes. To measure political information, Professors Bernhard and Leblang employ sophisticated models of the political process. They draw on a variety of models of market behavior, including the efficient markets hypothesis, capital asset pricing model, and arbitrage pricing theory, to trace the impact of political events on currency, stock, and bond markets. The analysis will appeal to academics, graduate students, and advanced undergraduates across political science, economics, and finance | ||
| 650 | 4 | |a Politik | |
| 650 | 4 | |a Weltwirtschaft | |
| 650 | 4 | |a Wirtschaft | |
| 650 | 4 | |a Capital market / Political aspects | |
| 650 | 4 | |a International economic relations | |
| 650 | 4 | |a Economics / Political aspects | |
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| 700 | 1 | |a Leblang, David |e Sonstige |4 oth | |
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Datensatz im Suchindex
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| author | Bernhard, William 1966- |
| author_facet | Bernhard, William 1966- |
| author_role | aut |
| author_sort | Bernhard, William 1966- |
| author_variant | w b wb |
| building | Verbundindex |
| bvnumber | BV043924359 |
| classification_rvk | QK 620 |
| collection | ZDB-20-CBO |
| contents | Introduction -- Democratic processes and political risk : evidence from foreign exchange markets -- When markets party : stocks, bonds, and cabinet formations -- The cross-national financial consequences of political predictability -- Cabinet dissolutions and interest rate behavior -- Bargaining and bonds : the process of coalition formation and the market for government debt in Austria and New Zealand -- Time, shares, and Florida : the 2000 presidential election and stock market volatility -- Polls and pounds : exchange rate behavior and public opinion in Britain -- Conclusion : political predictability and financial market behavior |
| ctrlnum | (ZDB-20-CBO)CR9780511607226 (OCoLC)967412984 (DE-599)BVBBV043924359 |
| dewey-full | 332/.041 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332/.041 |
| dewey-search | 332/.041 |
| dewey-sort | 3332 241 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1017/CBO9780511607226 |
| format | Electronic eBook |
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| id | DE-604.BV043924359 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:38:43Z |
| institution | BVB |
| isbn | 9780511607226 |
| language | English |
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| owner_facet | DE-12 DE-473 DE-BY-UBG |
| physical | 1 online resource (xi, 260 pages) |
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| publishDate | 2006 |
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| publisher | Cambridge University Press |
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| spelling | Bernhard, William 1966- Verfasser aut Democratic processes and financial markets pricing politics William Bernhard, David Leblang Democratic Processes & Financial Markets Cambridge Cambridge University Press 2006 1 online resource (xi, 260 pages) txt rdacontent c rdamedia cr rdacarrier Title from publisher's bibliographic system (viewed on 05 Oct 2015) Introduction -- Democratic processes and political risk : evidence from foreign exchange markets -- When markets party : stocks, bonds, and cabinet formations -- The cross-national financial consequences of political predictability -- Cabinet dissolutions and interest rate behavior -- Bargaining and bonds : the process of coalition formation and the market for government debt in Austria and New Zealand -- Time, shares, and Florida : the 2000 presidential election and stock market volatility -- Polls and pounds : exchange rate behavior and public opinion in Britain -- Conclusion : political predictability and financial market behavior The authors examine the conditions under which democratic events, including elections, cabinet formations, and government dissolutions, affect asset markets. Where these events have less predictable outcomes, market returns are depressed and volatility increases. In contrast, where market actors can forecast the result, returns do not exhibit any unusual behavior. Further, political expectations condition how markets respond to the political process. When news causes market actors to update their political beliefs, market actors reallocate their portfolios, and overall market behavior changes. To measure political information, Professors Bernhard and Leblang employ sophisticated models of the political process. They draw on a variety of models of market behavior, including the efficient markets hypothesis, capital asset pricing model, and arbitrage pricing theory, to trace the impact of political events on currency, stock, and bond markets. The analysis will appeal to academics, graduate students, and advanced undergraduates across political science, economics, and finance Politik Weltwirtschaft Wirtschaft Capital market / Political aspects International economic relations Economics / Political aspects Auswirkung (DE-588)4112646-4 gnd rswk-swf Politik (DE-588)4046514-7 gnd rswk-swf Kapitalmarkt (DE-588)4029578-3 gnd rswk-swf Politik (DE-588)4046514-7 s Auswirkung (DE-588)4112646-4 s Kapitalmarkt (DE-588)4029578-3 s 1\p DE-604 Leblang, David Sonstige oth Erscheint auch als Druckausgabe 978-0-521-67838-4 Erscheint auch als Druckausgabe 978-0-521-86122-9 https://doi.org/10.1017/CBO9780511607226 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Bernhard, William 1966- Democratic processes and financial markets pricing politics Introduction -- Democratic processes and political risk : evidence from foreign exchange markets -- When markets party : stocks, bonds, and cabinet formations -- The cross-national financial consequences of political predictability -- Cabinet dissolutions and interest rate behavior -- Bargaining and bonds : the process of coalition formation and the market for government debt in Austria and New Zealand -- Time, shares, and Florida : the 2000 presidential election and stock market volatility -- Polls and pounds : exchange rate behavior and public opinion in Britain -- Conclusion : political predictability and financial market behavior Politik Weltwirtschaft Wirtschaft Capital market / Political aspects International economic relations Economics / Political aspects Auswirkung (DE-588)4112646-4 gnd Politik (DE-588)4046514-7 gnd Kapitalmarkt (DE-588)4029578-3 gnd |
| subject_GND | (DE-588)4112646-4 (DE-588)4046514-7 (DE-588)4029578-3 |
| title | Democratic processes and financial markets pricing politics |
| title_alt | Democratic Processes & Financial Markets |
| title_auth | Democratic processes and financial markets pricing politics |
| title_exact_search | Democratic processes and financial markets pricing politics |
| title_full | Democratic processes and financial markets pricing politics William Bernhard, David Leblang |
| title_fullStr | Democratic processes and financial markets pricing politics William Bernhard, David Leblang |
| title_full_unstemmed | Democratic processes and financial markets pricing politics William Bernhard, David Leblang |
| title_short | Democratic processes and financial markets |
| title_sort | democratic processes and financial markets pricing politics |
| title_sub | pricing politics |
| topic | Politik Weltwirtschaft Wirtschaft Capital market / Political aspects International economic relations Economics / Political aspects Auswirkung (DE-588)4112646-4 gnd Politik (DE-588)4046514-7 gnd Kapitalmarkt (DE-588)4029578-3 gnd |
| topic_facet | Politik Weltwirtschaft Wirtschaft Capital market / Political aspects International economic relations Economics / Political aspects Auswirkung Kapitalmarkt |
| url | https://doi.org/10.1017/CBO9780511607226 |
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