This study investigates how firms’ lobbying activities change over business cycles. We show that firms lobby more during recessions. Aside from active lobbying firms, non-lobbying firms are also more likely to start lobbying during recessions. Corporate lobbying generally responds only to...

This study examines the effect of economic and political uncertainty on sovereign CDS spreads using a novel panel index of world uncertainty. We document that sovereign CDS spreads widen with uncertainty. A 1% increase in uncertainty leads to a 0.86% increase in sovereign CDS spreads....

This study develops a new economic uncertainty (EU) index based on Chinese newspapers by addressing the media coverage bias of existing measures. The developed index refines the existing methods on measuring uncertainty by taking special characteristics of China into consideration, which turns...

This study examines the effect of the coronavirus disease (COVID-19) on U.S. job search activity by developing sectoral and state-level job search indices. We document that Covid-19 has a significantly negative effect on job search, and that this effect varies across sectors and regions, being...

We investigate job search activity in China by constructing novel job search activity indices based on internet search volumes. These indices correlate positively with countercyclical labor market measures and negatively with procyclical ones. Our results suggest job search behavior is...

We employ the indicator saturation approach on electricity price series from the National Electricity Market (NEM) in Australia to simultaneously model the stylised facts of electricity prices, including extreme spikes, seasonality, level-shifts, and autocorrelation. Standard modelling methods...