We quantify and study state-level economic policy uncertainty. Tapping digital archives for nearly 3,500 local … newspapers, we construct three monthly indexes for each state: one that captures state and local sources of policy uncertainty … uncertainty much more than the average election. The COVID-19 pandemic drove huge increases in policy uncertainty and unemployment …

We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards, building on the approach … pertaining to the economy, policy matters, and uncertainty. Our overall EPU index co-varies positively with implied volatilities … for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU …

Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging … policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity … irreversible investment are more exposed to policy uncertainty. In sectors with large irreversible investment EPU has a greater …

unconventional monetary policy on financial and economic uncertainty. Our findings indicate that expansionary unconventional monetary … shocks lead to large reductions in uncertainty across markets. A surprise unconventional monetary easing lowers equity market …, policy, housing and mortgage market, exchange rate, and Treasury market uncertainty. Research results further suggest that …

This paper assesses the economics literature on policy uncertainty, addresses puzzles in that literature, and … uncertainty and economic activity, concerns about causal identification remain. However, new empirical measures of uncertainty … allow economists to ask questions with a precision likely to advance enduring debates on sources of uncertainty and their …

uncertainty in the United Kingdom for the period 1991-2016. These indices exhibit significant independent variation from popular … proxies for macroeconomic and financial uncertainty. We identify the impact of uncertainty shocks using narrative sign … uncertainty shocks are generally weaker than proxies suggest and that the effects depend on a subsequent rise in financial …

The aim of this paper is to investigate the effect of economic policy uncertainty on firms' investment decisions. We … focus on Spain for the period 1998-2014. To measure policy-related uncertainty, we borrow the economic policy uncertainty … (EPU) indicator available for this country. We find strong evidence that uncertainty reduces corporate investment. This …

challenges? To answer, we use the economic policy uncertainty indexes as proxies for media coverage, together with a limited set …