Resource title

Politics and the Stock Market : Evidence from Germany

Resource image

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Resource description

We analyze the interaction of stock market movements and politics in Germany. In contrast to the empirical evidence available for the U.S., we do not find that German stock market returns tend to be higher during liberal than during conservative governments. Also in contrast to results for the U.S., we find no evidence for an election cycle in German stock market returns. However, estimated popularity functions and VARs suggest that stock market returns have had an impact on the popularity of German governments. We find that this result is robust across different VAR specifications and time periods.

Resource author

Christian Pierdzioch, Jörg Döpke

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/17757

Resource license

Adapt according to the presented license agreement and reference the original author.