(Financial) Crises occur, unfortunately, frequently. Moreover, it appears that Equity Markets around the world co-move with increasing strength while crisis periods.
A current research project at the chair tries to find statistical evidence for exactly this phenomon. A working paper will be soon available.
The working paper is currently available at SSRN: https://www.zeppelin-university.com/chairs/oekono/index.php
The working paper is currently available at SSRN: