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Journal of Economic Structures

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Fig. 1 | Journal of Economic Structures

Fig. 1

From: Did real economic uncertainty drive risk connectedness in the oil–stock nexus during the COVID-19 outbreak? A partial wavelet coherence analysis

Fig. 1

Time series plot of daily data. The top two figures display the daily realized volatility of oil (OV) and equity (EV) estimated using high-frequency data from futures contracts, with a resolution of 5-min intervals. The bottom figures illustrate the daily business conditions index (ADS) proposed by Aruoba et al. (2009), the economic policy uncertainty index (EPU) developed by Baker et al. (2016), and the geopolitical risk index (GPR) introduced by Caldara and Iacoviello (2022)

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