title: The Effect of Political Communication on European Financial Markets during the Sovereign Debt Crisis
creator: Conrad, Christian
creator: Zumbach, Klaus Ulrich
subject: 330
subject: 330 Economics
description: 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.
date: 2012-12
type: Working paper
type: info:eu-repo/semantics/workingPaper
type: NonPeerReviewed
format: application/pdf
identifier: https://archiv.ub.uni-heidelberg.de/volltextserverhttps://archiv.ub.uni-heidelberg.de/volltextserver/14220/1/Conrad_Zumbach_2012_dp536.pdf
identifier: DOI:10.11588/heidok.00014220
identifier: urn:nbn:de:bsz:16-heidok-142207
identifier:   Conrad, Christian ; Zumbach, Klaus Ulrich  (2012) The Effect of Political Communication on European Financial Markets during the Sovereign Debt Crisis.  [Working paper]     
relation: https://archiv.ub.uni-heidelberg.de/volltextserver/14220/
rights: info:eu-repo/semantics/openAccess
rights: http://archiv.ub.uni-heidelberg.de/volltextserver/help/license_urhg.html
language: eng