The impact of climate policy uncertainty on the Italian financial market
In this paper, we develop the Climate Policy Uncertainty Index (CPU) for the Italian context based on news from major Italian newspapers. The CPU index exhibits distinct movements around major national and international climate events. We also investigate the effects of CPU on the Italian financial market. The results provide evidence that a shock CPU has a negative impact on financial market performance.
Authors
- Caterina Di Tommaso (ORCID: https://orcid.org/0000-0002-3162-7223)
- Vincenzo Pacelli (ORCID: https://orcid.org/0000-0002-8195-2876)
- Matteo Foglia (ORCID: https://orcid.org/0000-0001-8241-7106)
Institutions
- Mediterranean University (ME)
- University of Bari Aldo Moro (IT)
Publication Details
- Journal
- Finance research letters
- Published
- 2024-09-10
- DOI
- https://doi.org/10.1016/j.frl.2024.106094
- Citations
- 16
- Primary Topic
- Market Dynamics and Volatility
- Type
- article
- Field-Weighted Citation Impact
- 18.07
Funders
- Universita degli Studi di Bari Aldo Moro
- European Research Council