Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 26, 2022 erstellt
Beschreibung:
This study aims to investigate the macroeconomic effects of China’s climate policy uncertainty (CCPU) shock. To this end, we construct a novel CCPU index, which is found to coincide with key domestic climate policy changes. By using the time-varying VAR method, we show that CCPU has a significant negative impact on the total investment (TIV), the industrial production index (IPI), and the purchasing managers’ index (PMI) in the medium and long term. Our outcomes also suggest that PMI is more negatively affected than others during periods of high policy uncertainty