Evolution of Scaling Behaviors in Economic Policy Uncertainty Series

By means of the Unbiased De-trended Fluctuation Analysis, designed specially for estimation of scaling behaviors in short time series, we obtain the co-evolutions of scaling behaviors in economic policy uncertainty time series for the United States, the United Kingdom and the Mainland China. Technically, from the time series for each specific country, one extracts all the sub-series with a length of about one year and a successive time delay of about one month, the Hurst exponents for which form a scaling exponent series. The three scaling exponent series are then aligned together to display the co-evolution patterns. Seven events influencing strongly the economic policies each turn out to have their specific co-evolutionary patterns, giving successfully the characteristics of the crises’ influences and the responses from the policy-making institutions.