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Kontakt
Katja Pohle
Telefon: +49 345 55-21422
Telefax: +49 345 55-27404
presse@uni-halle.de
Universitätsplatz 8/9
06108 Halle
Saumitra Jha: Markets under Siege: How Differences in Political Beliefs Can Move Financial Markets
| Termin |
Donnerstag, 26. Juni 2025, 18.00 - 19.30 Uhr |
|---|---|
| Veranstaltungsart | Workshop/Seminar |
| Reihe | Forschungsseminar "Economic History, Growth & Development" |
| Einrichtung | Wirtschaftswissenschaftlicher Bereich |
| Veranstalter | Lehrstuhl Prof. Dr. Lars Börner |
| Veranstaltungsort | Wirtschaftswissenschaftlicher Bereich, Raum 122 |
| Straße | Große Steinstraße 73 |
| PLZ/Ort | 06108 Halle (Saale) |
Beschreibung
Can political beliefs, particularly about the benefits of war and peace, move thick financial markets? During the Prussian Siege of Paris (1870-71), the price of the 3% French sovereign bond, the most actively traded asset in continental Europe, differed persistently and substantially between Paris and elsewhere. As long as French resistance continued, Paris prices were higher and responded more to war events. After the ceasefire, price differences reversed dramatically until the peace terms were revealed. These patterns are consistent with a stylized model where prices reflect different political beliefs in Paris and elsewhere about the benefits of war versus peace.
Presenter: Prof. Saumitra Jha, PhD (Stanford Graduate School of Business)