Tan, Xiaofen; Ma, Yongjiao - In: China Finance Review International 7 (2017) 2, pp. 163-184
Purpose The purpose of this paper is to empirically analyze the impact of macroeconomic uncertainty on a large sample … whether the impact of macroeconomic uncertainty on commodity prices differs under the high- or low-uncertainty state. Findings … The findings show that positive macroeconomic uncertainty shocks affect commodity prices returns negatively on average and …