[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-31466":3,"doc-seo-31466":27},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"file_id":15,"file_url":16,"file_type":17,"file_size":18,"view_count":4,"is_deleted":4,"is_public":19,"is_downloadable":19,"audit_status":19,"page_count":20,"language":21,"language_code":22,"table_of_contents":23,"faqs":24,"seo_title":13,"seo_description":14,"update_tm":25,"read_time":26},31466,1099513958607,"Jiven","https://ap-avatar.wpscdn.com/avatar/100002390cf8733938c?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778829742770036399",8,"Research & Report","Economic Policy Uncertainty Spillovers and Multi-Scale Decomposition of EPU Index","Economic policy uncertainty (EPU) captures the unpredictability of government-driven policy effects on market resource allocation. Using newspaper-based EPU measures and firm- and macro-level evidence, the work links EPU to greater stock volatility and reduced investment and employment, with changes often preceding economic declines. As globalization strengthens, EPU resonates across countries through interdependence, event transmission, global cycle co-movement, and synchronized expectations, generating spillovers and cross-country contagion. The study highlights nonlinear, frequency-dependent, and multi-scale dynamics and motivates decomposition approaches such as EEMD for high-fidelity analysis.","cbCaijvlt9f1LQIY","https://ap.wps.com/l/cbCaijvlt9f1LQIY","pdf",1522265,1,18,"English","en","# Introduction\n## EPU as a measure of policy uncertainty\n## Resonance and cross-country spillover of EPU\n## Nonlinearity and frequency dependence in policy series\n## Limits of wavelet/Fourier methods for EPU time series\n## Motivation for multi-scale decomposition and EEMD","[{\"question\":\"How is economic policy uncertainty (EPU) measured and what does it represent?\",\"answer\":\"EPU reflects unpredictability in how economic policies affect resource allocation. A commonly used EPU index measures policy uncertainty in major economies, and a newspaper-coverage-based index is used to capture uncertainty dynamics.\"},{\"question\":\"What empirical impacts are associated with EPU at the firm and macroeconomic levels?\",\"answer\":\"EPU is associated with higher stock price volatility and lower investment and employment in policy-sensitive sectors. Macroeconomically, EPU changes tend to precede declines in investment, output, and employment.\"},{\"question\":\"Why is a multi-scale decomposition framework needed to study EPU dynamics?\",\"answer\":\"EPU time series exhibit nonlinear and frequency-dependent behavior, with low-frequency components linked to prolonged uncertainty and high-frequency fluctuations reflecting immediate market reactions. Traditional frequency-domain methods have limitations in capturing this structure, motivating methods like EEMD.\"}]",1779570027,45,{"code":4,"msg":28,"data":29},"ok",{"site_id":30,"language":22,"slug":31,"title":13,"keywords":32,"description":14,"schema_data":33,"social_meta":84,"head_meta":86,"extra_data":88,"updated_unix":25},105,"economic-policy-uncertainty-spillovers-and-multi-scale-decomposition-of-epu-index","",{"@graph":34,"@context":83},[35,52,66],{"@type":36,"itemListElement":37},"BreadcrumbList",[38,42,46,49],{"item":39,"name":40,"@type":41,"position":19},"https://docshare.wps.com","Home","ListItem",{"item":43,"name":44,"@type":41,"position":45},"https://docshare.wps.com/document/","Document",2,{"item":47,"name":12,"@type":41,"position":48},"https://docshare.wps.com/document/research-report/",3,{"item":50,"name":13,"@type":41,"position":51},"https://docshare.wps.com/document/economic-policy-uncertainty-spillovers-and-multi-scale-decomposition-of-epu-index/31466/",4,{"url":50,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"description":14,"dateModified":60,"datePublished":60,"encodingFormat":59,"isAccessibleForFree":61,"interactionStatistic":62},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":39,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-05-23",true,{"@type":63,"interactionType":64,"userInteractionCount":4},"InteractionCounter",{"@type":65},"ViewAction",{"@type":67,"mainEntity":68},"FAQPage",[69,75,79],{"name":70,"@type":71,"acceptedAnswer":72},"How is economic policy uncertainty (EPU) measured and what does it represent?","Question",{"text":73,"@type":74},"EPU reflects unpredictability in how economic policies affect resource allocation. A commonly used EPU index measures policy uncertainty in major economies, and a newspaper-coverage-based index is used to capture uncertainty dynamics.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"What empirical impacts are associated with EPU at the firm and macroeconomic levels?",{"text":78,"@type":74},"EPU is associated with higher stock price volatility and lower investment and employment in policy-sensitive sectors. Macroeconomically, EPU changes tend to precede declines in investment, output, and employment.",{"name":80,"@type":71,"acceptedAnswer":81},"Why is a multi-scale decomposition framework needed to study EPU dynamics?",{"text":82,"@type":74},"EPU time series exhibit nonlinear and frequency-dependent behavior, with low-frequency components linked to prolonged uncertainty and high-frequency fluctuations reflecting immediate market reactions. Traditional frequency-domain methods have limitations in capturing this structure, motivating methods like EEMD.","https://schema.org",{"og:url":50,"og:type":85,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":87,"canonical":50},"index,follow",{"doc_id":7,"site_id":30}]