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portada Democratic Processes and Financial Markets: Pricing Politics
Democratic Processes and Financial Markets: Pricing PoliticsDemocratic Processes and Financial Markets: Pricing PoliticsDemocratic Processes and Financial Markets: Pricing Politics
Type
Physical Book
Year
2006
Language
English
Pages
272
Format
Paperback
Dimensions
22.9x15x1.8 cm
Weight
0.38 kg.
ISBN
0521678382
ISBN13
9780521678384

Democratic Processes and Financial Markets: Pricing Politics

David Leblang (Author) · William Bernhard (Author) · Cambridge University Press · Paperback

Democratic Processes and Financial Markets: Pricing Politics - Bernhard, William ; Leblang, David

New Book Imported to South Africa
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R 922
R 922

Synopsis "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 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.

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All books in our catalog are Original.
The book is written in English.
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