EPU Index, Crude Oil Prices, and S&P 500: Wavelet Correlation
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DOI: 10.23977/ICEMBE2023.054
Corresponding Author
Si Jingzhi
ABSTRACT
Between January 2020 and June 2022, we collect 1830 data in total, processing them with R and doing wavelet analysis. Additionally, using a time-frequency framework, we examine the linkages between the COVID-19 epidemic, the Russian-Ukrainian war, the price of crude oil, the S&P 500, and the uncertainty of economic policy. The COVID-19 epidemic and the Russian-Ukrainian conflict have exceptional effects on the three indexes, with the war's effects on the price of crude oil and US stocks being greater than their effects on US economic instability.
KEYWORDS
Data processing; Wavelet analysis; COVID-19; Economic policy uncertainty; Russian-Ukrainian war; S&P 500; Oil prices