Estimating the impact of the outbreak of wars on financial assets: Evidence from Russia-Ukraine conflict
This study analyzes the performance of the Shanghai Composite Index, S&P 500 index, WTI oil price, and LBMA gold price when wars took place, especially the Russia-Ukraine conflict.We employ empirical methods to explore the stability, instantaneous shock, and short-term shock regarding the abovementioned financial assets.We first adopt the event stu