International Financial Markets Through 150 Years: Evaluating Stylized Facts

Sara A. Safari, Maximilian Janisch and Thomas Leh\'ericy

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Abstract: In the theory of financial markets, a stylized fact is a qualitative summary of a pattern in financial market data that is observed across multiple assets, asset classes and time horizons. In this article, we test a set of eleven stylized facts for financial market data. Our main contribution is to consider a broad range of geographical regions across Asia, continental Europe, and the US over a time period of 150 years, as well as two of the most traded cryptocurrencies, thus providing insights into the robustness and generalizability of commonly known stylized facts.

Date: 2025-04
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2504.08611

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