A new economic policy uncertainty index for Spain

Corinna Ghirelli, Javier Pérez and Alberto Urtasun

Economics Letters, 2019, vol. 182, issue C, 64-67

Abstract: We explore how sensitive is the influential Economic Policy Uncertainty (EPU) index (Baker et al., 2016) to certain key features of the construction methodology. Our results (for the case of Spain) both as regards the chronology of economic policy-related events as well as the effects of uncertainty shocks on the economy, show the relevance of fine-tuning two key methodological choices: (i) the richness of the keywords and expressions used, and (ii) the newspaper coverage. Thus, our results are not to be read only as regards the case under study (Spain), but rather convey a more general message.

Keywords: Economic uncertainty; Policy uncertainty; Uncertainty shocks (search for similar items in EconPapers)
JEL-codes: C43 D8 E2 E3 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (64)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:182:y:2019:i:c:p:64-67

DOI: 10.1016/j.econlet.2019.05.021

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