|
EconStor >
Technische Universität Dresden >
Fakultät Wirtschaftswissenschaften, Technische Universität Dresden >
Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/48116
|
| | |
| Title: | | Predictive accuracy of political stock markets: Empirical evidence from an European perspective  |
| Authors: | | Berlemann, Michael Schmidt, Carsten |
| Issue Date: | | 2001 |
| Series/Report no.: | | Dresden discussion paper in economics 05/01 |
| Abstract: | | In a meta study of 25 political stock markets conducted in Germany in the last decade we analyze their predictive success. Although the predictions of political stock markets are highly correlated with the corresponding polls, the markets are able to aggregate additional information. One explanatory variable for variations in predictive success of the German stock markets relative to the polls is market efficiency. Even though the overall predictions of the political stock markets are quite reliable on the aggregate level we find systematic prediction errors on the contract level that can be attributed to the vote share size and to individual trader biases. |
| Subjects: | | political stock markets forecasting market efficiency proportional representation |
| JEL: | | C93 D82 G1 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/48116
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|