{"id":"https://openalex.org/W2996950986","doi":"https://doi.org/10.1080/00036846.2019.1707475","title":"The effects of economic policy uncertainty on China\u2019s economy: evidence from time-varying parameter FAVAR","display_name":"The effects of economic policy uncertainty on China\u2019s economy: evidence from time-varying parameter FAVAR","publication_year":2019,"publication_date":"2019-12-30","ids":{"openalex":"https://openalex.org/W2996950986","doi":"https://doi.org/10.1080/00036846.2019.1707475","mag":"2996950986"},"language":"en","primary_location":{"id":"doi:10.1080/00036846.2019.1707475","doi":"https://doi.org/10.1080/00036846.2019.1707475","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036846.2019.1707475","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5073565469","display_name":"Yinghua Ren","orcid":"https://orcid.org/0000-0002-8699-7918","observed_orcids":["https://orcid.org/0000-0002-8699-7918"]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Yinghua Ren","raw_affiliation_strings":["College of Finance and Statistics, Hunan University, Changsha, China"],"raw_orcid":"https://orcid.org/0000-0002-8699-7918","affiliations":[{"raw_affiliation_string":"College of Finance and Statistics, Hunan University, Changsha, China","institution_ids":["https://openalex.org/I16609230"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5046141922","display_name":"Qing Guo","orcid":"https://orcid.org/0000-0003-4209-5469","observed_orcids":["https://orcid.org/0000-0003-4209-5469"]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Qing Guo","raw_affiliation_strings":["College of Finance and Statistics, Hunan University, Changsha, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Finance and Statistics, Hunan University, Changsha, China","institution_ids":["https://openalex.org/I16609230"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5045021628","display_name":"Huiming Zhu","orcid":"https://orcid.org/0000-0001-6384-7258","observed_orcids":["https://orcid.org/0000-0001-6384-7258"]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Huiming Zhu","raw_affiliation_strings":["College of Business Administration, Hunan University, Changsha, China"],"raw_orcid":"https://orcid.org/0000-0001-6384-7258","affiliations":[{"raw_affiliation_string":"College of Business Administration, Hunan University, Changsha, China","institution_ids":["https://openalex.org/I16609230"]}]},{"author_position":"last","author":{"id":null,"display_name":"Wanming Ying","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I16609230","display_name":"Hunan University","ror":"https://ror.org/05htk5m33","country_code":"CN","type":"education","lineage":["https://openalex.org/I16609230"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Wanming Ying","raw_affiliation_strings":["College of Finance and Statistics, Hunan University, Changsha, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Finance and Statistics, Hunan University, Changsha, China","institution_ids":["https://openalex.org/I16609230"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5045021628"],"corresponding_institution_ids":["https://openalex.org/I16609230"],"apc_list":null,"apc_paid":null,"fwci":4.7421,"has_fulltext":false,"cited_by_count":50,"citation_normalized_percentile":{"value":0.94872649,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":"52","issue":"29","first_page":"3167","last_page":"3185"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.9883000254631042,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.9883000254631042,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.010900000110268593,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11711","display_name":"COVID-19 Pandemic Impacts","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/economic-policy-uncertainty","display_name":"economic policy uncertainty","score":0.996999979019165},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.5289999842643738},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.8700000047683716},{"id":"https://openalex.org/keywords/fiscal-policy","display_name":"fiscal policy","score":1.0},{"id":"https://openalex.org/keywords/asymmetric-policy-responses","display_name":"asymmetric policy responses","score":0.7269999980926514},{"id":"https://openalex.org/keywords/m2-money-supply","display_name":"M2 money supply","score":0.9750000238418579},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.9120000004768372},{"id":"https://openalex.org/keywords/precautionary-saving","display_name":"precautionary saving","score":0.6940000057220459},{"id":"https://openalex.org/keywords/fixed-asset-investment","display_name":"fixed asset investment","score":0.7960000038146973},{"id":"https://openalex.org/keywords/real-estate-investment","display_name":"real estate investment","score":0.6740000247955322},{"id":"https://openalex.org/keywords/stock-market","display_name":"stock market","score":0.5139999985694885},{"id":"https://openalex.org/keywords/exchange-rates","display_name":"exchange rates","score":0.6690000295639038},{"id":"https://openalex.org/keywords/bond-market","display_name":"bond market","score":0.5569999814033508},{"id":"https://openalex.org/keywords/consumption","display_name":"consumption","score":0.6079999804496765}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.8028337955474854},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.5505530834197998},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.5485556125640869},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.521187961101532},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.4914644956588745},{"id":"https://openalex.org/C524878704","wikidata":"https://www.wikidata.org/wiki/Q187021","display_name":"Fiscal policy","level":2,"score":0.47079697251319885},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.4616919755935669},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.44617584347724915},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.4316340386867523},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.41530683636665344},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.4135345220565796},{"id":"https://openalex.org/C105639569","wikidata":"https://www.wikidata.org/wiki/Q582577","display_name":"Economic policy","level":1,"score":0.3907035291194916},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.16840195655822754},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/00036846.2019.1707475","doi":"https://doi.org/10.1080/00036846.2019.1707475","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036846.2019.1707475","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:applec:v:52:y:2020:i:29:p:3167-3185","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/00036846.2019.1707475","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G430070337","display_name":null,"funder_award_id":"2019JJ40038","funder_id":"https://openalex.org/F4320322843","funder_display_name":"Natural Science Foundation of\u00a0Hunan Province"},{"id":"https://openalex.org/G929954336","display_name":"\u57fa\u4e8e\u8d1d\u53f6\u65af\u6781\u7aef\u5206\u4f4d\u6570\u56de\u5f52\u7684\u91d1\u878d\u98ce\u9669\u5ea6\u91cf\u7406\u8bba\u53ca\u5e94\u7528\u7814\u7a76","funder_award_id":"71671062","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"},{"id":"https://openalex.org/F4320322843","display_name":"Natural Science Foundation of\u00a0Hunan Province","ror":null}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":56,"referenced_works":["https://openalex.org/W253204056","https://openalex.org/W1566392529","https://openalex.org/W1842741107","https://openalex.org/W1898408038","https://openalex.org/W1973607358","https://openalex.org/W2002278788","https://openalex.org/W2019459021","https://openalex.org/W2035717030","https://openalex.org/W2040826293","https://openalex.org/W2044903856","https://openalex.org/W2051507568","https://openalex.org/W2056687719","https://openalex.org/W2079563517","https://openalex.org/W2091143848","https://openalex.org/W2095169544","https://openalex.org/W2128375917","https://openalex.org/W2133073622","https://openalex.org/W2133492060","https://openalex.org/W2135608939","https://openalex.org/W2165414137","https://openalex.org/W2231312801","https://openalex.org/W2259588300","https://openalex.org/W2286737450","https://openalex.org/W2287433174","https://openalex.org/W2293323344","https://openalex.org/W2395074111","https://openalex.org/W2567268580","https://openalex.org/W2610120615","https://openalex.org/W2610267770","https://openalex.org/W2614211862","https://openalex.org/W2757221589","https://openalex.org/W2758498070","https://openalex.org/W2758543453","https://openalex.org/W2790509479","https://openalex.org/W2808121525","https://openalex.org/W2890227062","https://openalex.org/W2890638637","https://openalex.org/W2891464987","https://openalex.org/W2922219648","https://openalex.org/W2955569925","https://openalex.org/W3001472365","https://openalex.org/W3022276048","https://openalex.org/W3023597126","https://openalex.org/W3102339402","https://openalex.org/W3121510993","https://openalex.org/W3122069413","https://openalex.org/W3122661194","https://openalex.org/W3122937838","https://openalex.org/W3123974967","https://openalex.org/W3124052898","https://openalex.org/W3124444187","https://openalex.org/W3126081245","https://openalex.org/W4232698045","https://openalex.org/W4247110188","https://openalex.org/W4256290197","https://openalex.org/W6898699206"],"related_works":["https://openalex.org/W2334194249","https://openalex.org/W7167043531","https://openalex.org/W2605319865","https://openalex.org/W4389410580","https://openalex.org/W2804791005","https://openalex.org/W4400222547","https://openalex.org/W7125389312","https://openalex.org/W7135549882","https://openalex.org/W4405612342","https://openalex.org/W7204227576"],"abstract_inverted_index":{"This":[0],"article":[1],"explores":[2],"the":[3,38,42,48,52,64,92,101,136,163],"effects":[4],"of":[5,21,41,51,66],"China\u2019s":[6,157],"economic":[7,129,159],"policy":[8,16],"uncertainty":[9],"(EPU)":[10],"on":[11,31,128,144],"its":[12],"fiscal":[13,69,82],"policy,":[14],"monetary":[15,67,80],"and":[17,55,68,81,112,125,135,148,162,180],"a":[18,25,123,141,189],"wide":[19],"range":[20],"macro-economic":[22,53,77],"variables":[23,54],"using":[24],"time-varying":[26,39,49],"parameter":[27],"FAVAR":[28],"model.":[29],"Based":[30],"monthly":[32],"data":[33],"from":[34],"07/2003":[35],"to":[36,46,71,88,116,156],"08/2017,":[37],"structure":[40],"model":[43],"allows":[44],"us":[45],"capture":[47],"characteristics":[50],"which":[56],"channel":[57],"is":[58,73],"relevant.":[59],"Empirical":[60],"results":[61,168],"reveal":[62],"that":[63,170],"reaction":[65],"policies":[70,83,96],"EPU":[72,89,117,120,171],"highly":[74],"asymmetric":[75],"across":[76],"circumstances.":[78],"Loose":[79],"are":[84,97],"adopted":[85],"in":[86],"response":[87],"shocks":[90,121,172],"during":[91],"financial":[93,181],"crisis,":[94],"while":[95],"moderately":[98],"tightened":[99],"after":[100],"crisis.":[102],"The":[103,167],"China":[104],"Interbank":[105],"Offered":[106],"Rate":[107],"(Chibor)":[108],"responds":[109],"more":[110],"sensitively":[111],"severely":[113],"than":[114],"M2":[115],"shocks.":[118],"Additionally,":[119],"have":[122],"significant":[124],"negative":[126],"impact":[127,143],"growth,":[130],"consumption,":[131],"exchange":[132],"rates,":[133],"bonds":[134],"stock":[137],"market,":[138],"but":[139,184],"showing":[140],"positive":[142],"credit,":[145],"real":[146],"estate":[147],"fixed":[149],"asset":[150],"investment":[151,165],"(which":[152],"might":[153],"be":[154],"due":[155],"special":[158],"market":[160,182],"environment":[161],"high":[164],"return).":[166],"indicate":[169],"significantly":[173],"affect":[174],"macroeconomic":[175],"fundamentals":[176],"through":[177,188],"precautionary":[178],"savings":[179],"channels":[183],"lose":[185],"their":[186],"effectiveness":[187],"\u2018real":[190],"options\u2019":[191],"effect.":[192]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":15},{"year":2023,"cited_by_count":9},{"year":2022,"cited_by_count":8},{"year":2021,"cited_by_count":6},{"year":2020,"cited_by_count":2}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2020-01-10T00:00:00"}