DEREGULATION AND THE VOLATILITY OF UK STOCK PRICES
研究英国股市在1986年“大爆炸”放松管制前后四年的波动性变化，发现“大爆炸”后至“黑色星期一”前波动未显著增加，但“黑色星期一”后波动性上升，即使调整全球波动后仍如此。
This paper examines the behaviour of the UK stock market for significant changes in volatility over the four years surrounding Big Bang i.e. 27 October, 1986 when the market was substantially deregulated. The main findings are that after Big Bang but prior to Black Monday, the UK stock market was no more volatile than prior to Big Bang, but that after Black Monday, the UK market was more volatile than prior to Big Bang even after adjusting for increases in global volatility.