Emergency measures for equity trading: The case against short-selling bans and stock exchange shutdowns by Enriques, L, Pagano, M

“…In addition, both in Europe and in the US, there have been calls for an even more drastic measure: a lasting ‘stock exchange holiday’. This chapter reviews the evidence on the effects of short-selling bans during the financial crisis and discusses the merits of stock exchange holidays and concludes that neither of these measures bring benefits to financial markets.…”