Directly to content
  1. Publishing |
  2. Search |
  3. Browse |
  4. Recent items rss |
  5. Open Access |
  6. Jur. Issues |
  7. DeutschClear Cookie - decide language by browser settings

The Effect of Political Communication on European Financial Markets during the Sovereign Debt Crisis

Conrad, Christian ; Zumbach, Klaus Ulrich

PDF, English
Download (657kB) | Terms of use

Citation of documents: Please do not cite the URL that is displayed in your browser location input, instead use the persistent URL or the URN below, as we can guarantee their long-time accessibility.


We quantify all statements by major European politicians reported by Reuters during the August 2011 to December 2011 period and show that political communication significantly affects European stock and bond markets as well as the EUR-USD exchange rate. Communication with respect to Italy induces the strongest market reactions. Financial markets consider the German bondmarket a safe haven.

Item Type: Working paper
Series Name: Discussion Paper Series / University of Heidelberg, Department of Economics
Volume: 0536
Date Deposited: 13 Dec 2012 11:05
Date: December 2012
Number of Pages: 9
Faculties / Institutes: The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics
Subjects: 330 Economics
Schriftenreihe ID: Discussion Paper Series / University of Heidelberg, Department of Economics
About | FAQ | Contact | Imprint |
OA-LogoDINI certificate 2013Logo der Open-Archives-Initiative