Chiang, Thomas C. - In: Journal of risk and financial management : JRFM 15 (2022) 1, pp. 1-24
between the stock return and a country’s EPU. Evidence suggests that a rise in the U.S. EPU causes not only a decline in a … country’s stock return, but also a negative spillover effect on the global market; however, we cannot find a comparable … significantly affects stock return worldwide. This study also finds an indirect COVID-19 impact that runs through a change in …
