Stock market booms in economies damaged during World War II

Shiba Suzuki

Research in Economics, 2012, vol. 66, issue 2, 175-183

Abstract: Some studies find that real equity prices in economies damaged during World War II tended to rise sharply at the beginning of actual damage taking place during the war. This paper introduces an empirically plausible degree of persistence from the impact of World War II and demonstrates that stock market booms in economies damaged during the war are consistent with an equilibrium model of asset pricing.

Keywords: Disasters; World War II; Financial history (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reecon:v:66:y:2012:i:2:p:175-183

DOI: 10.1016/j.rie.2012.02.002

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