The Presidential Election President Obama Is The First...

The 2008 US presidential Election: We select the 2008 US presidential election is because president Obama is the first African American president. Panel B of Table 1 reports results of arbitrage computation for the 2008 US presidential election. As we can observe from Panel B of Table 1, we do not see any positive return both from USD to GBP and from GBP to USD. Only one positive return appears in 3 months’ forward rates for both USD to GBP and GBP to USD. When we look at the average arbitrage opportunity for different maturities, the average arbitrage opportunity of USD to GBP is smaller than that of GBP to USD in 3 out of 4 different maturities. The 2008-2009 global financial crisis: To investigate this global impact, the first challenge we encounter is what is the beginning and ending period for this economic event. To find more reliable time frame, we use the timeline of the global financial crisis given by Federal Reserve Bank of St. Louis. This timeline is also adopted by Shynkevich (2016). In this global event, we can see several positive arbitrage profit occur in these 4 different maturities (mostly seen in 1-month and 3-months). Furthermore, in terms of average arbitrage profit, the average arbitrage profit of USD to GBP is greater than that of GBP to USD in only 3-months maturity. The 911 terrorist attack World Trade Center and the Pentagon: To investigate how market react to this unexpected shock, we will check one month reaction after the 911 shock.Show MoreRelatedWhat Has Barack Obama s Election Victory? An Article Written By Paul Adjei And Jagjeet Gill947 Words   |  4 PagesBarack Obama s Election Victory Got To Do With Race, an article written by Paul Adjei and Jagjeet Gill which debates the supposed post racial rhetoric that has unfolded in North America, through the inauguration of the first African American President in the United States of America. 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